The construction industry in Guam presents significant business opportunities, with the sector expected to remain stable for the next three years due to $663 million in military spending coming to Guam. The bulk of the projects will be work commissioned by the military and the federal government, offering consistent work for qualified contractors. The Guam Contractors Association has identified priority sectors for investment, including tourism and hospitality services, education and health services, information and communication technology, agribusiness, and energy development.
Key Areas of Opportunity
- Infrastructure Development: Guam faces a growing need for infrastructure improvements, including upgrades to its airport, roads, bridges, water systems, and power grids, presenting significant opportunities for construction companies and related businesses.
- Military Construction: Guam is home to several major U.S. military bases, with ongoing construction and maintenance projects offering consistent work for qualified contractors.
- Tourism-Related Development: The continued growth of Guam’s tourism industry fuels demand for new hotels, resorts, restaurants, and entertainment venues, creating opportunities for construction and related businesses.
- Green Building and Sustainability: Guam is increasingly focused on sustainable development, with growing demand for energy-efficient and environmentally friendly construction practices and technologies.
Industry Insights
- Top Construction Companies: Hensel Phelps, Granite Construction, Nan, Black Construction, and Faith Technologies are among the top construction companies in the country.
- Employment Opportunities: There are numerous employment opportunities in the construction sector in the country, with a variety of roles available, including equipment operators, electricians, and concrete labourers.
- Military Contracts: The surge of construction for Marine Corps Camp Blaz and other military projects has led to a significant increase in construction contracts in Guam.
Conclusion
The construction industry in Guam offers diverse opportunities for businesses and investors, particularly in infrastructure development, military construction, tourism-related projects, and sustainable building practices. With the expected stability in the industry and the government’s openness to investments, Guam presents a favorable environment for those looking to enter the construction market. By leveraging the island’s unique strengths and the demand for various construction projects, businesses can capitalize on the potential for growth and success in Guam’s construction industry
