DEPARTMENT of Finance Secretary David DLG Atalig is encouraging small businesses and non-profit organizations with ideas for a new industry or new opportunities to contact the Commonwealth Economic Development Authority.
“We’re looking for small businesses and non-profit organizations that want to help stir up new industries and help us bring new revenue into the Commonwealth,” he added.
Citing the recent U.S. Department of Agriculture’s funding approval for the Tinian slaughterhouse, Atalig said, “Hopefully within a couple years…we can restore what we used to have: a small cattle/beef industry so we can export quality grass-fed beef to Guam and other places. That’s exciting and we look forward to that.”
He said the administration also looks forward to assisting farmers on Rota and fishermen on Saipan.
In June, Gov. Ralph DLG Torres signed a new law transforming the Commonwealth Development Authority into the Commonwealth Economic Development Authority.
Under the new law, CEDA is empowered with the flexibility to become proactive in the pursuit of industries and investments that will strengthen the CNMI economy by allocating and expending funds for promoting the Commonwealth as a location for private investment; the expansion and retention of existing businesses; the promotion and marketing of local products; and the undertaking of promotional activities for investments in line with the economic development plan for the islands.
Any use of CEDA funds for the promotional activities for CNMI investments, the expansion, and retention of an existing business, the promotion, and marketing of products of the CNMI will be reported in the annual CEDA Citizen-centric Report.
This report will include the budgeted amount and annual expenditure; purpose and action taken; the results of promoting the CNMI; and any other relevant information pertaining to those activities.
CEDA acts in consultation with the Department of Commerce in the performance of its duties.
