Our View: GEDA grants benefit community in the best way
Pacific Daily News
When the government gives tax breaks to businesses on Guam via qualifying certificates, it’s important that the community benefits in ways beyond the new jobs and economic activity generated.
Businesses issued tax-break qualifying certificates through the Guam Economic Development Authority pay mandatory annual community contributions and GEDA used to keep most of the money for its own operations.
But starting in 2019 the agency began funding availability and provided an opportunity for other agencies and nonprofit groups to apply for grants. On Monday, GEDA announced seven government and nonprofit that were awarded a total of $303,275.40 to fund projects related to economic development, job training and developing small businesses.