Maritime Industry Emerges as Key Growth Focus in Economic Development Hearing

A bevy of agency heads filed into the Legislature on Friday to discuss opportunities for economic growth, particularly as the territory expends billions of dollars in recovery projects.  Alongside workforce development, construction, and an attractive investment environment, a recurring theme was the expansion of the territory’s maritime industry.  Haldane Davies, director of the Bureau of Economic Research, made multiple references to the maritime sector in his testimony. He advised that the territory must “explore greater balanced opportunities in our exclusive ocean economic zones.” These zones consist of approximately 200 miles of ocean to the territory’s north and south. The director urged the powers that be to explore “what blue economy ventures could be explored and harnessed.”  Among Davies’s recommendations were establishing more water-based attractions and enacting legislation to “attract more bareboat and term charter companies.” He also suggested constructing more boatya...