Bordallo testifies before Senate Energy and Natural Resources Committee: Highlights Economic Opportunities and Urges Stronger Federal Investment

FOR IMMEDIATE RELEASE—March 1, 2006—Washington, D.C.—

Congresswoman Madeleine Z. Bordallo testified today before the Senate Energy and Natural Resources Committee regarding the economic conditions and opportunities for Guam.  This was the first full committee hearing of the Senate Energy and Natural Resources Committee on territorial issues in the 109^th Congress.  The Senate Energy and Natural Resources Committee is the primary committee of jurisdiction over the territories.  This committee is the counterpart to the House Resources Committee.

“Ensuring that Guam and the other U.S. territories continue to develop and strengthen economically should remain an important part of overall U.S. policy.  Today’s hearing was an opportunity to get that message across,” Bordallo stated.   

As part of today’s oversight hearing, the Governors and the Congressional Delegates from the territories testified about the state of their islands’ economies.  Congresswoman Bordallo took the opportunity to raise federal policy issues linked to the economic development of Guam.  In particular, Congresswoman Bordallo highlighted three issues:  the establishment of a bond bank which would finance capital needs and infrastructure improvements in the territories; greater access to the federal marketplace for businesses in Guam and greater utilization by federal agencies of the Historically Underutilized Business Zone (HUBZone) Program; and workforce development issues.      

“Bond banks already serve at least twelve states today.  By pooling our resources, the territories can access the capital we need to improve infrastructure in Guam.  I am committed to working on legislation that may be needed to implement the territorial bond bank proposal that has been developed by the IGIA,” Bordallo stated.  The bond bank proposal was discussed at yesterday’s Interagency Group on Insular Areas (IGIA).

“There is also need to prepare Guam’s workforce to meet the surge of military and off-base construction that will occur in the coming years.  At today’s hearing, I focused on the need to increase federal support for our local job training and workforce development programs,” added Bordallo.

Last year, Congresswoman Bordallo proposed legislation which was enacted into law that designated the entire island of Guam as a HUBZone.  The HUBZone Program provides small businesses preferences and advantages to obtaining federal contracts.  Prior to the enactment of Congresswoman Bordallo’s legislation there were only four HUBZone-certified firms in Guam.  There are now currently 54 such firms, representing a 1300 % increase since the new law took effect.  Congresswoman Bordallo is urging federal agencies to promote Guam’s small businesses by utilizing the HUBZone Program and by increasing HUBZone set-asides in federal contracts awarded for work in Guam.

The Senate Energy and Natural Resources Committee is chaired by Senator Pete V. Domenici (NM).  The Ranking Democratic Member is Senator Jeff Bingaman (NM).  Senator Daniel Akaka (HI) and Senator Lisa Murkowski (AK) attended today’s hearing in addition to Chairman Domenici and Ranking Member Bingaman. 

Congresswoman Bordallo’s written testimony / View Photo 1 / View Photo 2

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Contact:  Alicia Chon in Washington, D.C. at (202) 225-1188 or Joseph E. Duenas at (671) 477-4272/4.

www.house.gov/bordallo

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