Guam 2011 Comprehensive Economic Development Strategy (CEDS)
The 2011 Guam Comprehensive Economic Development Strategy (CEDS) is primarily based upon the concept of economic tigers in general and on Guam becoming the first Pacific Tiger in particular. The Pacific Tiger strategy is based on six overall economic goals that are designed to bring about a sustainable and participatory economic development process for Guam. The Pacific Tiger strategy found its strongest supporters in the current Calvo-Tenorio Administration whose economic platform “Blueprint 2020” provides details on how to begin the operations of the six Pacific Tiger goals into objectives.
The process was initiated to provide direction, focus, and priority for local efforts and guide federal assistance and private investment in order to stabilize and grow the economy to improve quality of life and public services. In general, the projects outlined in this plan focus on a set of broad economic objectives, including the development of a broader economic base, the achievement of full employment, the establishment of greater employment opportunities, the creation of higher wage and salary levels, the improvement of the island’s standard of living, and the equitable distribution of economic growth.
Guam’s CEDS document describes the island’s economic problems, needs, potentials,and resources; presents the community’s vision and goals; sets its strategic direction for action; establishes priority programs and projects for implementation; and outlines the standards for an annual evaluation and update of the plan and its related processes.
To be an effective guide to the island’s long-term economic development, the strategies and projects presented in this document must reflect contemporary changes in the economy if they are to correctly correspond to set polices and goals. As such, Guam’s CEDS is viewed not as a static document, but rather as a continuous effort to refine Guam’s future growth objectives, strategies, and requirements.
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