CITÉ SOLEIL, Haiti, October 8, 2009 – Haiti-based conglomerate WIN Group and the non-profit private foundation, Soros Economic Development Fund, have announced plans to develop a US$45 million industrial park to jumpstart industry in the Caribbean island, on the heels of an investor conference held there last week.

The industrial park, to be called the West Indies Free Zone, will include more than 1.2 million square feet of turn-key rentable space. It will target local and international manufacturers as well as warehousing businesses and offer tax, customs and processing advantages to tenants.

The project will be located near Cité Soleil, one of the poorest communities in Haiti, and expects to create 25,000 jobs and improve the standard of living for the 300,000 residents.

"We are beyond proud to have had President Clinton visit what we view as a transformative project in Haiti, and a key element of the country’s ultimate economic revitalization,” said Youri Mevs, managing partner of WIN Group, one of the Caribbean’s largest conglomerates with stakes in diverse industries such as warehousing and storage, port operations and ethanol processing.

"While humanitarian aid is crucial to Haiti, we must build an infrastructure that lays the foundation for ongoing, sustainable economic growth. In the long term, job creation is the first step to improving people’s quality of life.”
Executives from the West Indies Free Zone are already in preliminary discussions with North American and European apparel manufacturers, among other industries.

Initially, the West Indies Free Zone will target companies in the light assembly manufacturing that would benefit from the project’s proximity to numerous key markets within the Americas.

“We are committed to supporting Haiti’s economic growth,” said Stewart Paperin, president of the Soros Economic Development Fund. “This project will create thousands of jobs and attract the types of businesses crucial to helping Haiti expand its economic capabilities.”

The investment from the Soros Economic Development Fund is a symbolic step by the international community to commit capital to Haiti and demonstrate the feasibility of developing and leasing space within a newly developed industrial park.

Located on a 60-acre parcel, the West Indies Free Zone is expected to be completed by late 2012. The project’s initial phase of construction is scheduled for the fall of 2010.

“Everyone involved with WIN Group applauds our government’s vision in helping to capitalize on this unique opportunity,” added Mevs. “It is truly a special day for us, and most importantly, for the future of our people.”