HAGATNA, Guam (AP) — A government economic development official in Guam says the territory's reputation is at stake with the delay of tax breaks for a developer building a $219 million private hospital.
Vice Chairman David John of the Guam Economic Development Authority board told Pacific Daily News (http://bit.ly/TeXo27 ) the delay could tarnish Guam in the eyes of potential investors.
Guam Regional Medical City applied for more than $170 million in tax breaks over 20 years. It received approval from the authority in early December and is waiting for a legal review from the attorney general's office.
Spokeswoman Carlina Charfauros of the attorney general's office says it has been working diligently since receiving the files in late March.
John says the issue is a big deal because Guam depends on outside capital for jobs.
Information from: Pacific Daily News: http://www.guampdn.com