Managing Director of Red Stripe, Luis Prata.
November 2, 2021
Red Stripe doubles down on Jamaica with $134 Million investment
KINGSTON, JAMAICA – Red Stripe today unveiled its new employee lifestyle campus. The 6-month construction project accelerated the company’s investment in Jamaica by $134 million, providing opportunities to 19 local companies and their employees.
The company stated in a release that the best-in-class facility, which supports the company’s occupational health and wellness programme, now features a renovated state of the art canteen, a high-tech and progressive on-site sports bar which includes an audio-visual room with LED screens and surround sound, and a multi-purpose sports arena, complete with a jogging track, basketball/netball court and an overhauled football field.
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“With this investment, we are reaffirming our commitment to our employees and Jamaica,” said managing director Luis Prata.
“Not only have we created an ultra-modern facility to support employee wellbeing, but we have also created socio-economic impact through the creation of jobs; another excellent demonstration of the fact that for every person employed at Red Stripe, 14 jobs are supported elsewhere in the economy.”
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According to IMF figures, the Jamaican economy declined -10.2 per cent in 2020 and growth in GDP is expected at just 1.5 per cent in 2021.
Despite the slowdown of an economy bruised by the effects of the COVID-19 pandemic, Red Stripe stated that it has held firm to its commitment to go forward with the investment. Most recent data indicates that Red Stripe contributes 1 per cent of local GDP across its entire value chain.
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“While the Red Stripe family worked on raising the spirits of its employees, the Faith Fabrication team worked on raising the household income of a few skilled Jamaicans. The project called for the expertise of carpenters and masons to be completed, so they subcontracted a few to help in the execution of the renovation,” the release said.
Martin Rose, managing director of Rose Painting, which provided painting services, was pleased to participate in the project as he too could provide for his staff.
“When most businesses were tightening up due to the uncertainty of the pandemic, it was full steam ahead with Red Stripe. I was glad to have been able to get the contract for the painting. That meant my workers could feed their families, and I could maintain my business through this time of instability.”
