CNMI employment number soars

Imperial Pacific International (CNMI) LLC continues to generate much needed economic activity for the Northern Marianas and provides additional revenues and resources that pay critical government services and obligations.

The investment giant is also credited with diversifying the local employment landscape.

There is already a sense of optimism among residents as a result of a revived economy. In nearly three years on Saipan, the multimillion-dollar investment of IPI has opened up job opportunities to those that are considering careers in the casino-resort industry.

A number of skills development, professional development, training programs and seminars have been made available locally. These are to cater to dozens of new job positions that are now available within the casino-resort flagship investment of the Hong Kong-based company. IPI’s presence helped lift the CNMI government’s challenge to rebuild the local employment sector.

Since 2014, the number of local/U.S. residents employed by Imperial Pacific continues to grow, as the company remains the largest private employment source for both residents and foreign workers.

There are now about 1,800 employees working for the casino-resort company. These are retirees, new graduates, residents, and foreign workers. The foreign workers are EAD, H-1B, E3, and CW1 holders.

The payroll withholding taxes paid by these workers alone have already yielded the local economy $8 million in additional revenue at the end of the second quarter of this year.

In total, Imperial Pacific has poured in over $700 million in combined investments ($500 million in construction) and taxes and fees (over $200 million). This is by far the single largest revenue/economic source for the local economy since the departure of the garment industry nearly 20 years ago.

As a result of these investments, public services, in particular the CNMI government’s pension liability, has also received much-needed reprieve.

In 2013, a U.S. district court approved a settlement agreement with the CNMI government’s pension plan, which applied for bankruptcy in 2012. Two years later, when Imperial Pacific decided to invest on Saipan, the $25-million casino licensee fees was tapped to restore the 25-percent reduction in retiree benefits and pensions.

There are over 3,000 NMI retirees that have benefited from Imperial Pacific’s contributions.

Meanwhile, Imperial Pacific is aggressively recruiting locally for more workers who are willing to join and be part of an exciting new industry.

Over the past month, recruitment fairs were held on Saipan, Rota, Tinian, Guam, Ponhpei, Majuro, Hawaii, Las Vegas, New York, and Puerto Rico.

In addition, it has partnered with colleges, universities, and trade schools on Saipan and the mainland U.S. for internship programs that Imperial Pacific have made available.

Job hiring announcements are also available at the Imperial Pacific website, www.imperialpaccareer.com, local newspapers, the websites for the CNMI, Hawaii, Guam, and Puerto Rico’s Department of Labor, and on the website Monster Jobs. (Press Release)