Guam

Hagåtña, GU - Guam serves as a major shipping and commercial hub for many of the smaller island nations in the Micronesia region of the Western Pacific. While Guam's economy has strengths, it also suffers from low per capita income and low job growth. The area is particularly vulnerable to natural hazards, such as typhoons, tropical cyclones, and tsunamis. An update to Guam’s economic strategy will not only assist in identifying best approaches to mitigating these challenges, but also assist in preparing for a highly anticipated U.S. military buildup.

In September 2017, EDA invested $150,000 in Economic Adjustment Assistance funds to the Government of Guam to fund the development and implementation of a Comprehensive Economic Development Strategy for the region, which will bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy.

This investment will diversify Guam’s existing strategy to lay the foundation for economic development, as well as help prepare for the planned increase in military personnel while making it more resilient to natural disasters and economic downturns. The EDA investment will establish an economic development planning framework, process, and strategy that supports private capital investment and job creation in the region.