Investing in Haiti's Growth

The Caracol Park is one of the largest and most ambitious regional investments projects in Haiti's history and will have a transformative effect on the Northern region and improve the livelihoods of its people in a sustainable manner. The benefits include:

  • The Caracol Park will build on the momentum in the Haitian manufacturing sector. Today in Haiti, there are 31 apparel factories employing close to 29,000 workers. In 2010, $517 million worth of apparel were exported to the U.S., an increase over prior years despite the impact of a devastating earthquake. For 2011, exports are estimated to be $610 million, close to a 20% annual growth.

  • The Park, housing and ancillary infrastructure is projected to generate up to 2,800 construction jobs over the coming years. The local community has already been employed in the construction of fencing and makes up the majority of the Park's security team.

  • The Park will create 20,000 full-time Haitian jobs in the first phase with Sae-A's investment alone, making Sae-A the largest private employer and biggest private foreign investor in Haiti. Sae-A is estimated to generate over $500 million in wages and benefits over the next ten years, with each worker earning 3 times Haiti's current GDP per capita (per capita GDP is approximately $640). In addition to Sae-A, other tenants are expected in the first phase, creating additional jobs.

  • Once the Park becomes fully operational with the addition of more factories, it is projected to have the capacity to have 65,000 permanent full-time employees. Plus, the Park is projected to create one job outside the Park for each full-time employee inside the Park, by stimulating growth in microenterprises, smallholder farming, food vending and financial services. The Park is expected to increase the number of formally registered private sector jobs in Haiti by an estimated 20%.

  • Sae-A will produce apparel with fabric made in Haiti, reducing dependence on imported raw materials and dramatically increasing the value added in Haiti for each garment manufactured. This not only raises Haiti's competitiveness, but also means more investment and more revenue for Haiti's local economy.

  • The Park will increase the tax base through the development of more employment and increased trade.

  • The Park will showcase to the world that Haiti is open for business and able to compete effectively on the global marketplace, without compromising on labor and environmental standards.