FARGO PACIFIC

Company History

Fargo Pacific, Inc. (FPI) is a duly licensed General Contractor doing business on Guam and Saipan. FPI is incorporated in the Territory of Guam since September 24, 1975.

Mr. Jin Sik Park (01/06/1928 – 09/12/2005), the Founder of FPI is a great and successful man who brought FPI to Guam since 1975 will be gratefully remembered in our hearts, minds, and soul. His creativity and beautiful structures he left behind will serve as a foundation for Guam’s future.

His 45 years of construction management and personal know-how business skills will be passed on from generation to generations. Since the inception of Mr. Jay S. H. Park’s career with FPI in 1986, Mr. Jin Sik Park became a mentor and teacher to Mr. Jay S. H. Park. He personally trained his son the daily management skills including but not limited to bookkeeping and accounting, preparation of business letters and correspondences, filing and indexing, preparation of bids, negotiating and compromising, manpower assessment and distribution, human resources management, conflict management, and project management and its job costing, and decision making.

Mr. Jay S.H. Park became the newly elected President & General Manager of FPI effective January 1, 2001. After Mr. Jin Sik Park passing the torch to Mr. Jay S.H. Park, Mr. Jay S. H. Park managed the company during the worse economic times on Guam in 2001 to 2003. He has been making the day to day decisions on advertising and marketing, sole sourcing, bidding, contracting, financing, and accounting. He made the day to day decisions from the experience and the knowledge he has acquired during the Mentor-Protégé relationship with his father. And he is fully in charge and responsible for the major company decisions since the inception of his newly elected position of President and General Manager. Mr. Jay S.H. Park has managed, learned, and experienced the true construction business cycle on Guam, and he is fully capable and experience to run FPI regardless of the cyclical economic situations.

He graduated from University of Hawaii at Manoa with the Bachelor of Arts Degree in Economics in 1986. After his graduation, he decided to come to Guam and work for his father. He started to work at FPI doing general accounting and bookkeeping work using ACCPAC Plus accounting software. He prepared the chart of accounts, input of day to day actual receipts and costs on all accounts, bank reconciliation, job costing, preparation of payroll and its checks, prepared daily business letters and correspondences, filing and indexing, preparation of the trial balance sheet, and preparation of audit schedule and participate in actual audit. Mr Jay S. H. Park then decided to utilize new accounting software QuickBooks Contractor Edition to interlink all accounting modules including accounts payables, accounts receivables, job costing, inventory control, and payroll. Mr. Jay S.H. Park also decides to hire new internal auditors to accurately and independently prepare the internal books and interim schedules for the Sureties, banks, and other institutions and Government Agencies. Mr. Lisheng and Mrs. Ester Xing are both the Certified Public Accountants who are responsible for the preparation of schedules for the year end audits, quarterly financial statements including the work in progress, and other schedules required by the Management.

Mr. Jay S.H. Park also worked on the R.S. Means Estimating software to assist and work in cooperation with the estimators and engineers in planning, selecting, bidding, and management of the projects. FPI started using the SureTrak Project Management Software by Primavera Systems, Inc. to prepare schedules and management of the projects independently. He also attended the University of Guam Graduate School of Business Management to self enrich his management skills to manage the day to day operations of FPI.

When Mr. Jay S.H. Park became the President of FPI, he immediately initiated and filed the application to the U.S. Small Business Administration’s (SBA) to become the certified contractor under the SBA Minority Development (MED), or 8(a)/SDB program. This was a time staking effort but in order to survive the competitive construction market on Guam, this was the viable solution to stay in business.

On September 10, 2002, FPI under the U.S. Small Business Administration’s (SBA) Minority Development (MED), or 8(a)/SDB program. (SBA 8(a) Case #108557, SBA 8(a) Entrance Date=9/10/2002, & SBA 8(a) Exit Date=9/10/2011) received 8(a) certification.

Once FPI became the 8(a) certified, FPI was able to acquire many sole sourced Federal and Commercial Prime and Subcontracts, compete on 8(a) set-aside solicitations, and expand its clientele by marketing FPI to various Federal Agencies and Commercial Businesses on Guam, this was the viable solution to stay in business.

FPI received the contract awards from the U.S. Navy and other Federal Governments vis-à-vis the Sole Sourced Contracts, 8(a) Set-Aside Design Build Multiple Award Construction Contract; 8(a) Set-Aside Air Conditioning Multiple Award Construction Contract, and 8(a) Set-Aside IDIQ Roofing Contract.

Mr. Jay S.H. Park also decided to file an application to the U.S. SBA to qualify for the HUBZone Small Business Concern because there were so many 8(a) companies competing against one another to acquire limited work available under the 8(a) set-aside solicitations.

FPI received the Certification from the U.S. SBA for HUBZone Small Business Concern (HUBZone SBC) under an application number 20593, SBA Customer number PO215249 dated 9/8/2005. Since then, FPI received multiple Task Orders under the HUBZone Set-Aside Design-Build Multiple Award Construction Contracts from August 2006 to present. On 03/27/2015, FPI received the HUBZone SBC Re-Certification from the U.S. SBA.

FPI specializes in Military Construction, Commercial Construction, Residential Construction, and Maintenance and Facilities Construction.

King & Neel, Inc. represents as a bonding agent for FPI starting January 1, 2011.

Fidelity & Deposit Company of Maryland (a subsidiary of Zurich American Insurance Company) approved the single contract bond of $25,000,000 and aggregate contract bonds up to $50,000,000 for FPI respectively.

FPI has an excellent track record with the Surety and has not caused any claims or problems to the Surety whatsoever in relation to their ability to successfully complete any contract undertaken and fulfill all the obligations of payment to vendors.

FPI maintains over 100,000 square feet of warehouse space with its main office space of over 16,000 square feet. FPI owns much construction equipment, tools, and machines at the warehouse lay down yard for the immediate mobilization when the project is awarded and ready to break ground.

FPI has a strong engineering team for the accurate estimating, monitoring, quality controlling, and managing the projects to its successful completion. Their resumes are readily available upon request via fax or e-mail. FPI also carries its own workforce of skilled journeymen in every description of work categories. Since FPI’s workforce being the best resources that FPI has, they are indeed the main driving force to FPI’s success in the construction business.

 GUAM HILTON HOTEL

ALTE GOLF COURSE CLUB HOUSE

OKA TOWERS CONDOMINIUM

PACIFIC ISLAND HOTEL, PHASE II

PARAOCEANA COMMERCIAL BUILDING

CALVO’S COMMERCIAL CENTER BUILDING

GUAM VISITOR’S BUREAU

NEW ORLEANS PLAZA