5 Mar 2010

American Samoa to hold major discussion on state of the econonmy

7:12 am on 5 March 2010

Government officials and business owners are being called to a hearing of the House Economic Development Committee next week to discuss the state of American Samoa 's economy.

Committee Chairman Alexander Jennings says there's a consensus among business owners that the territory is in for a rough ride in the next few months when federal funds from the tsunami and the temporary jobs funded by the US Department of Labor end.

Mr Jennings said local businesses that he's talked to are cutting back rather than expanding. And he's not heard any announcements from the government of possible off island investment for economic development.

He says the business community seems to be more concerned with the poor state of the economy but the government has been silent on the subject.

He's hopeful that the discussions next week will provide ideas on what can be done to retain jobs.