HAGATNA, Guam (AP) — The Guam Economic Development Authority is recommending tax breaks for an investment group building Guam's only private hospital.
Pacific Daily News (http://bit.ly/1d6XOvm) reports the authority board of directors voted Tuesday to back $170 million in tax breaks over 20 years.
An authority analysis indicates Guam will gain $420 million in taxes over the same 20-year period from hospital business.
The private hospital will be operated by The Medical City, based in the Philippines.
The investment group is investing $219 million in the project.
It is scheduled to open by September near Micronesia Mall in Dededo.
The board recommendation will undergo a legal review.
Gov. Eddie Calvo has the final call on tax breaks. He has supported tax breaks for the hospital because he says it fills a community need.