GUAM CONSTRUCTION INDUSTRY GETS BOOST FROM AIR BASE

HAGATNA, Guam (Pacific Daily News, July 1) - Guam's construction industry can expect increased business from Andersen Air Force Base, which has received approval for $58 million worth of post-typhoon repairs and an additional $35 million project to build a concrete hangar for two B-2 stealth bombers.

Col. Joseph Mudd, 36th Air Base Wing Commander, announced approval of the funds at a Guam Chamber of Commerce meeting yesterday.

"A lot of money is going to new construction projects,'' Mudd said.

Jim Adkins, chairman of the chamber board, welcomed Mudd's announcement.

"It will be a big boost to the construction industry,'' Adkins said.

The economic benefit to Guam includes job creation and increased spending by contractors, Adkins said.

Joseph Bradley, an economist and vice president at the Bank of Guam, said yesterday at the chamber event that military spending is a saving grace for the island's shrinking economy.

But Bradley added that military spending isn't enough to make up for all the losses in the tourism industry, which has seen double-digit declines in visitor arrivals this year and last year.

July 1, 2003

Pacific Daily News: www.guampdn.com 

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