Investment: CODEVI

CODEVI
CODEVI is the only fully operational Free Trade Zone in Haiti, consisting of two million square feet of land. Located in the northern part of the country, CODEVI currently has 240,000 square feet of land developed into industrial space, housing five apparel manufacturing business lines. CODEVI provides its tenants with electricity, voice and data services, a recruitment and training center and a cafeteria and recreation area. CODEVI is 100% wholly owned by Grupo M, a privately owned vertically integrated apparel manufacturer in the Dominican Republic producing knits and woven products for the U.S. market.

Why we invested
The apparel manufacturing business lines located at CODEVI are best positioned to take advantage of the HOPE II Act - which expands trade preferences to Haiti’s textile industry - while creating low-income jobs in a city outside of the capital. Grupo M, a full package apparel manufacturer, operates, runs and managed CODEVI and has a long track record of success. This investment is expected to create 1,400 new Haitian low-income jobs in 2011.

SEDF has also partnered with Citi to monitor a $250,000 grant that will help CODEVI launch a professional training program for both factory line workers as well as management. The Citi grant complements SEDF’s investment in CODEVI.

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