HRC and Haiti

Wall Street Journal’s O’Grady: The Caracol Industrial Park In Haiti Was Launched By Secretary Clinton “With U.S. Taxpayer Money, Under The Supervision Of Her Husband Bill And His Clinton Foundation.” “On the fifth anniversary of the 7.0 magnitude earthquake in Port-au-Prince, Haiti remains a poster child for waste, fraud and corruption in the handling of aid. Nowhere is the bureaucratic ineptitude and greed harder to accept than at the 607-acre Caracol Industrial Park, a project launched by former Secretary of State Hillary Clinton with U.S. taxpayer money, under the supervision of her husband Bill and his Clinton Foundation.” [Mary Anastasia O’Grady column, Wall Street Journal, 1/11/15] Wall Street Journal’s O’Grady: Despite Hundreds Of Millions Of Dollars In Grants To Caracol, “The Park Is Falling Far Short Of The Promises Made To Provide Investors With Necessary Infrastructure.” “Between the State Department and the Inter-American Development Bank (IDB), which hands out grants to very poor countries thanks to U.S. generosity, hundreds of millions of dollars have been spent on this park in an attempt to attract apparel manufacturers. But the park is falling far short of the promises made to provide investors with necessary infrastructure. If things continue this way, frustrated investors will look for greener pastures.” [Mary Anastasia O’Grady column, Wall Street Journal, 1/11/15] Wall Street Journal’s O’Grady: The State Department Initially Promised That The [Caracol Park] Would Be Able To Support 65,000 Direct Jobs By 2020,” Though “The Anchor Tenant…Currently Employs Some 4,500 Haitians.” “The State Department initially promised that the park would be able to support 65,000 direct jobs by 2020. The Clinton Foundation has made similar statements. That means constructing 40 10,000 square-meter buildings for garment assembly. It won’t happen at the current pace. The total job-creating capacity since the foundation stone was laid in November 2011 is three assembly buildings and a 10-megawatt power plant. A fourth workshop is under construction but is unlikely to be completed before late spring. This must be tough to take for the anchor tenant, the Korean manufacturer Sae-A Trading Ltd. It has committed to a $78 million investment at Caracol and currently employs some 4,500 Haitians. It says it wants to hire 20,000. To do so it needs another dozen buildings.” [Mary Anastasia O’Grady column, Wall Street Journal, 1/11/15] Wall Street Journal’s O’Grady: New Estimates Predict That At Its Best, “The Caracol Workforce Will Then Be 11,300—A Far Cry From The State Department’s Estimate Of 65,000 Direct Jobs Or Even The IBD’s Forecast Of 40,000.” “A Dec. 12 IDB press release says the Haitian government is approved for a new $70 million grant to construct, among other things, three new production buildings by 2018 with a goal of providing space for 6,800 workers. Bank officials have to know that putting Haitian government officials in charge of such a project is likely to doom it. But let’s suppose I’m wrong and the buildings go up. The Caracol workforce will then be 11,300—a far cry from the State Department’s estimate of 65,000 direct jobs or even the IBD’s forecast of 40,000.” [Mary Anastasia O’Grady column, Wall Street Journal, 1/11/15]