August 07, 2007
Cruz Invites Investors to Guam
(Honolulu) Lt. Governor Michael W. Cruz, M.D. invited about 60 major business leaders in Hawaii to invest in Guam’s growing future during an investment seminar held this morning, Guam time, at The Pacific Club in Honolulu. The Guam Investment Conference included presentations by Watts Construction President Denny Watts and Guam Economic Development and Commerce Authority Administrator Tony Blaz. Lt. Governor Cruz gave the keynote address. “We spoke to bankers and leaders in the hotel, shipping, real estate and military contracting industries and told them about the opportunities we have on Guam,” Lt. Governor Cruz said. “It was a successful conference and we were able to get many of the participants interested in visiting Guam and investing in our future.” The Lieutenant Governor said Guam will need the help of Hawaii’s Congressional delegation in pushing funding packages for Guam to build the public infrastructure needed to sustain growth. This, he said, includes major improvements to the water, power, mass transit, healthcare, transportation and education systems. Denny Watts presented the opportunities investors have on Guam and told business leaders about the $120 million in military construction projects Watts Construction is contracted to complete, even before the buildup. He advised prospective investors to come to the island, learn about military contracting, partner with Guam businesses and get involved with the community. Tony Blaz then outlined investment packages, tourism and economic statistics and ongoing tourism development projects. He stressed that tourism is on an upswing and talked about large commercial projects outside the military scope. After the presentations, Lt. Governor Cruz, Watts, Blaz and the Lieutenant Governor’s Chief of Staff Carlotta Leon Guerrero answered questions from the audience on topics such as the high demand for construction and labor permits and the affects this buildup will have on tourism. Lt. Governor Cruz also told the audience that the Administration will aggressively push Congress and the White House for the same access to foreign labor pools the military currently has. The seminar was hosted by ChaneyBrooks, Matson, PacRim Marketing Group, First Hawaiian Bank, Media Five and Watts Construction. The president of ChaneyBrooks, the event’s organizer, is Steve Sombrero, a former resident of Guam and 1979 JFK graduate.

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