|Program||# of Grants||EDA Funds|
|Economic Adjustment Assistance||1||$2,000,000|
After a decade of recession and stagnation, Guam’s economic conditions are beginning to see improvement. A large driver of the region’s economy is expected to stem from the relocation of approximately 5,000 U.S. Marines to the island, and the construction of infrastructure projects to support their redeployment. Guam’s ability to capitalize on these projects is currently constrained by its lack of skilled workers across all industries. This skill gap is most pronounced in the construction and maintenance industries, partially because of the time and effort required to effectively develop specialized construction-related skills.
In September 2016, EDA invested $2 million in Economic Adjustment Assistance funds to assist the Guam Contractors Association (GCA) Trades Academy with building a training facility focused on construction, maintenance and related trades. This project will provide a facility for the local workforce to be trained to meet both current needs and the expected demand arising from military projects in Guam.
GCA Trades Academy is working in close partnership with the local construction industry to improve the skill level of the local workforce using the latest technologies and methodologies. These latest technologies include green construction, alternate energy, sustainable development practices, and best industry practices.
The project will have a direct economic impact on both the local public and private sectors by providing the construction and maintenance industries with a readily available source of trained, skilled, and credentialed workers. These additional workers will strive to meet local construction and maintenance needs as well as train the current workforce so local firms remain globally competitive. Local businesses have indicated that they will be able to create 445 jobs for workers trained through the facility.