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Board recommends Guam private hospital tax breaks
Guam Economic Development Board recommends tax breaks over 20 years for private hospital
Associated Press
2013-12-11 03:22 AM

HAGATNA, Guam (AP) -- The Guam Economic Development Authority is recommending tax breaks for an investment group building Guam's only private hospital.

Pacific Daily News (http://bit.ly/1d6XOvm) reports the authority board of directors voted Tuesday to back $170 million in tax breaks over 20 years.

An authority analysis indicates Guam will gain $420 million in taxes over the same 20-year period from hospital business.

The private hospital will be operated by The Medical City, based in the Philippines.

The investment group is investing $219 million in the project.

It is scheduled to open by September near Micronesia Mall in Dededo.

The board recommendation will undergo a legal review.

Gov. Eddie Calvo has the final call on tax breaks. He has supported tax breaks for the hospital because he says it fills a community need.

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