Calvo details Year 1 in Adelup - KUAM.com-KUAM News: On Air. Online. On Demand.

Calvo details Year 1 in Adelup

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by Ken Quintanilla

Guam - A quarter of Governor Eddie Calvo's term has passed, and although his administration accomplished several goals in a year's time, Adelup still has a lot of work ahead of them. He came in at a difficult time and was faced with several challenges from an over $300 million deficit, owing millions to vendors and COLA recipients and a 13 percent unemployment rate.

However, after a year in office, the island's chief executive explained this afternoon that the only way he could achieve a more responsible government was by making dramatic decisions. "We've done both in cutting down costs and for areas when it comes to rent and releasing pay for government workers and also when it comes to reductions in workforce," he shared, speaking before the Rotary Club.

From discovering how the previous administration was missing a cash-flow report outlining incoming revenues to achieving transparency with the community with his weekly addresses, fulfilling a current obligation of paying the people back millions of tax refunds was a highlight of his year. "I think we did pretty good when everyone else was having their credit rating lowered, including the United States, that our government received the highest credit rating it has in many years, in decades," he continued. "And that of course, once we set the stage for that credit rating, it helped us receive enough confidence in the bond market so that we could float out a bond at 4.9 percent."

The Administration is currently working on achieving fiscal stabilization, but is already looking ahead on how to improve services and create an island paradise where other people would consider Guam a superior place to live more than anywhere else in the world. Part of achieving that is his "Imagine Guam" initiative, of which he said, "Having our partners in the private sector and the community getting together with us and bringing in some of our partners and individual and businesses and entities from outside who see potential in Guam and bring them together and look at what our short-term and long-term economic potential in certain areas."

The biggest challenge is finding the funding to achieve all these goals. From bringing in more investment to gaining regulatory support from the government, Calvo wants to get the economy moving that would translate in more jobs, more revenues and possibly companies paying more taxes. "I do believe that we so much ahead for us and it's important for us to come together. This is a government that wants to work with the federal government, wants to work with outside partners outside of Guam and wants to be a government serving you the people of Guam," he stated.

In March, Governor Calvo will continue his trade mission by heading to Korea and Taiwan to attract more potential investment. The year in progress was only a preview of what Governor Calvo has in store, as he will deliver his State of Island Address on January 31. 

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