During this past week, the Economic Development Subcommittee (EDS) has reviewed and made revisions to the attached list of funding requirements for inclusion in the Governor's FY 2010 budget request to federal agencies resulting from planned military buildup. The revised funding requests were developed in conjunction with GEDCA staff, SBDC and the Pacific Center for Economic Initiatives at UOG. Detailed project justifications are being prepared and will be transferred to BBMR's format as required by the CMTF. The final budget request should be submitted by next week for the Governor's approval in preparation for the upcoming IGIA and FRC meetings slated for the end of February in Washington D.C., and in San Francisco.

Additionally, during the week GEDCA was able to schedule a meeting with the Navy contractors that are preparing the Socio-Economic Impact Study. As you may recall, the Navy JGPO initially objected to conducting this study however, because socioeconomic impacts were identified as the items of greatest concern at the public scoping meetings held in the Spring of 2007 on Guam, JGPO recently announced that the study will be required as part of the Environmental Impact Study (EIS) for the proposed military growth on Guam. The meeting is scheduled to take place at lOam on Friday, February 15,2008 at GEDCA and will be attended by members of the Economic Development Subcommittee and representatives from the University of Guam. The meeting will focus on addressing any concerns regarding the socioeconomic analysis and data collection process developed by the team of economists.

The membership of the EDS will continue to meet to discuss and recommend resolution on the challenges associated with the military expansion's impact to the local economy.

 

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