Gov. Lou Leon Guerrero has signed two new laws that would expand the qualifying certificate program to include commercial drone and processing-distribution industries.
“This pandemic expresses the importance of diversifying our economic pillars by inviting new industries to consider investing in Guam, with the intent of creating new jobs, increasing our tax base, and spurring the economy,” said Sen. James Moylan, author of Bills 217-35 and 218-35, which were signed into Friday.
Bill 217-35, now Public Law 35-118, seeks to entice the potential of a commercial drone industry on Guam.
Market analysts predict that the global commercial drone industry is expected to grow into a $92 billion industry by 2030. According to ABI Research, the future of the commercial drone market looks promising with opportunities in precision agriculture, aerial photography, surveillance, survey mapping, and energy applications. The major growth driver for this market is the increasing demand for a commercial drone from various end use industries.
Bill 218-35, now Public Law 35-119, seeks to encourage the establishment of a processing company, and a distribution, transformation, or fulfillment center industries on Guam.
Both measures add to the matrix of industries who may qualify for GEDA’s QC program and among the requirements of the program includes the creation of new jobs.
“With our present economic situation, and the ending of the federal Pandemic Unemployment Assistance, it is critical that our government prioritizes policies which would enhance employment opportunities for our community,” Moylan said.
Since the two pieces of legislation were first introduced in 2019, there has been some interest from local business entities who seek opportunities to diversify their industries, Moylan said.
"I look forward to working with my colleagues in this and the next Guam Legislatures through bi-partisan efforts in supporting small businesses with their recuperation, and in 'Getting Guam Working Again,” the senator said.