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Evolution St Louis receives funding from Opportunity Zone

20
Sep '19
Pic: Evolution St Louis
Pic: Evolution St Louis
Evolution St Louis, a premier high-tech knitting facility at 3830 Washington Blvd, has received an investment from the newly created St Louis Manufacturing Opportunity Zone Fund. The Opportunity Zone programme – created as part of the Tax Cuts and Jobs Act of 2017 – is designed to help distressed urban and rural communities in Missouri and across the country.

"We are encouraged that investors see the vision for our project and why we chose to open our facility in St Louis, where there is a rich heritage in the fashion industry and deep roots in manufacturing," said Jon Lewis, co-founder of Evolution St Louis. "Those who choose to invest in companies like Evolution St Louis through Opportunity Zone Funds are helping to create sustainable job growth and economic development in this city and throughout the United States."

"The future of St Louis' fashion industry is bright, and we are excited that Evolution St Louis is bringing the talent and technology we need to support our growing fashion industry, as well as investors who are helping make their vision a reality," said Otis Williams, executive director at the St Louis Development Corporation.

Evolution St Louis will begin production later this year and expects to create 50 to 60 new jobs within the first three years. Additional jobs will be added as the company expands.

“With the support of the city of St Louis and our investors, we are building the supply chain of the future in the United States," said John Elmuccio, co-founder of Evolution St Louis. "We will create meaningful jobs with mentoring and structured job training for in-demand, high-tech roles at our factory here in St Louis." (PC)

Fibre2Fashion News Desk – India


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