Measures to entice new industries on island, create new jobs, and add to tax base pass

The following is news from the Office of Sen. Jim Moylan:

Senator James Moylan’s Bills 217-35 and 218-35 were passed by the 35th Guam Legislature this afternoon. Both measures propose to entice new industries to the island, which in turn has the potential of creating new jobs and adding to our tax base.

Bill 217-35 would entice the potential of a Commercial Drone Industry, and Bill 218-35 would entice the potential of a Processing Trade and Distribution, Transformation, or Fulfillment Center Industries on Guam. The measures would add to the matrix of those industries who may qualify for the Guam Economic Development Authority’s (GEDA) Qualifying Certificate Program.

Both bills have the potential to attract investors, whether it be through the island’s commerce community seeking to diversify or outside interests who would consider the many benefits which Guam provides from a geographical perspective. The measures also leave the establishment of any benefits for potential applicants under the responsibility of GEDA.

“We are excited about the opportunities that these measures could provide our island in terms of economic activity. Since the Bills were introduced in 2019, a few entities have expressed interest in the potential of Guam for a Commercial Drone industry, as well for a Fulfillment or Transformation Center, particularly from a geographical perspective.”, states Senator Moylan. “The objective of these measures is to entice potential investments through GEDA’s QC Program and allow the process to take its course. With our economic conditions, it is vital that our government prioritize measures which would create new jobs and support our tax base, and Bills 217 and 218 have the possibility of serving these objectives”, added Senator Moylan.

Senator Moylan thanks his colleagues for their support of these two measures, and humbly requests Governor Lou Leon Guerrero’s consideration in enacting both pieces of legislation to allow their potential to surface. Bill 217-35 passed with 14 votes, and Bill 218-35 passed with 13 votes.