Parkdale Mills is investing $150 million in a new spinning plant in Honduras, the US government said.
This support will provide customers with sources to purchase one million pounds of yarn per week within the region while increasing the resilience of the US supply chain.
Parkdale Mills’ investment is intended to support approximately 500 employees at each location and increase indirect job growth in Honduras and the United States, particularly in the US cotton industry in 18 states.
The investment also includes $24 million in new investments in solar power, water reclamation, and energy-efficient HVAC systems.
This announcement by this company was included in the Report on the US Strategy to Address the Root Causes of Migration in Central America.
Right there it is reported that Nespresso works with more than 1,200 farms in Guatemala to improve livelihoods in the region.
The company announced its first sourcing of coffee from Honduras and El Salvador, with plans to increase activities in the region for the upcoming harvest season.
This is part of the company’s commitment to support the region’s economy with a minimum of $150 million to be spent on coffee purchases, price premiums and technical assistance by 2025.
Another similar case is that of Mastercard, which promised to incorporate 5 million people in El Salvador, Guatemala and Honduras into the formal financial economy and to digitize one million micro and small businesses.
The company established a Digital Country Alliance with the Guatemalan Ministry of Economy, accelerating its work to incorporate five million people in El Salvador, Guatemala and Honduras into the formal financial economy.
This will also allow 1 million micro and small businesses to access online payment and management systems.
For its part, PepsiCo will invest at least 190 million dollars in northern Central America until 2025.
The company’s planned investments include improvements to its infrastructure and manufacturing facilities; expansion of new distribution routes; IT projects; and investments aligned with its “pep+” agenda (PepsiCo Positive).
This includes spreading regenerative farming practices across 7 million acres (which is roughly the size of the company’s entire agricultural footprint), becoming Net Water Positive by 2030 by reducing absolute water use and replenishing watersheds, and achieve net zero emissions by 2040 by increasing the use of renewable energy, among other efforts.