Pew released the result of the economic study by Dr. Thomas Iverson of the University of Guam, titled “The Economic Impact of the Proposed Mariana Trench Marine Monument.”
According to Pew, Iverson’s report forecast $333 million in economic benefits to the CNMI over the next several years, and an estimated 8,000 additional tourist arrivals every year.
“How did Dr. Iverson come up with the $333 million?” Villagomez asked, saying the commonwealth should have benefited from the three northernmost islands long ago because “the islands, in their present state, are beautiful.”
The economic study, he added, should have taken into consideration the isolated setting of the islands, and the exposed condition of the area during a natural calamity like a typhoon or tsunami.
Pew proposes to establish a marine monument comprising the northern islands of Uracas, Maug, and Asuncion.
Rep. Stanley T. Torres, R-Saipan, said the $333 million is “a dream.”
Torres said he is interested to hear how Iverson came up with the figure.
“Assuming federal funding…the Marianas Trench Marine National Monument would generate in excess of $10 million in spending, over $14 million in sales…almost $5 million in tax revenues and 400 jobs,” Iverson’s study stated.
According to Villagomez, there is no longer a need to declare the three islands as a marine monument because they are already being protected by the Division of Fish and Wildlife and other government agencies.
