Buildup's costs outweigh benefits, says GEDA
Posted: Feb 02, 2010 2:56 PM
Updated: Feb 02, 2010 2:56 PM
by Mindy Aguon
*Letter from GEDA to Sen. Aguon
Guam - Economic impacts from the impending military buildup will exceed the anticipated economic benefits. That's what the Guam Economic Development Authority anticipates should mitigation measures not be identified and included in the final environmental impact statement.
GEDA Administrator Tony Blaz listed primary concerns with the relocation of U.S. Marines that include demands for infrastructure increasing the pressure for substantial borrowing; money not being spent in the local economy; a recession-like period after 2014; and continued increases in the cost of goods and services. Blaz says government officials must ensure that benefits from the buildup exceed the costs so residents and our economy can obtain short- and long-term benefits if the buildup occurs.