Fashion Business Inc - FBI Lead Consultant Bruce Dobb Secures $400,000 loan for American Apparel

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The Fashion Business Inc.
127 East 9th Street Suite 212
Los Angeles, CA 90015
Phone: 213.892.1669
Email: info@fashionbizinc.org

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FBI Lead Consultant Bruce Dobb Secures $400,000 loan for American Apparel

Fashion Business Inc., and the Valley Economic Development Center are pleased to announce that FBI's lead consultant ,Bruce Dobb, has secured a $400,000 low -interest rate loan for American Apparel, one of the largest T-shirt manufacturers in the United States. American Apparel is the fastest growing garment company located in Downtown LA’s federally designated Empowerment Zone. This loan from the Los Angeles Community Development Bank (LACDB) will help to fund expansion for machinery and equipment, creating 200 jobs over the next two years as part of the City’s Growth Contract initiative. American Apparel known for its socially responsible business practices and stylish form-fitting T-shirts recently announced the addition of health care benefits for its employees expanding on the company’s proactive employee environment and programs.   At the start of 2002 American Apparel implemented new worker friendly modular production realizing an 80% increase in sales. American Apparel has grown to be the largest, fully integrated garment factory in the United States employing over 1000 people at the factory.

“This loan will give us the ability to create new growth to purchase more equipment and to hire more workers that will allow us to supply the demand for more American Apparel products,” said Dov Charney, co-founder and senior partner of American Apparel. As a result of American Apparel’s location in the Empowerment Zone, the company also receives State sponsored training for its employees and a utility rate reduction, allowing American Apparel to leverage its technology, designs and production, providing increased employee pay and benefits. American Apparel is rapidly growing, helping to revitalize L.A.’s downtown economy creating more jobs and producing a renaissance in a distressed community.

Councilman Nick Pachecho noted that, “The Garment Industry employs over 100,000 workers within the Los Angeles Region. It contributes $ 9 billion annually to the local economy and is the largest manufacturing sector in Los Angeles County. It provides more jobs for low and moderate-income workers than any other industry sector.” Councilman Pachecho’s office was significant to American Apparel’s recent expansion within the 14th Council District.

“Here’s an excellent example of a private-public partnership that works,” said FBI Executive Director, Frances Harder.   “By providing technical assistance to American Apparel and some 14 other companies in the garment industry we’re able to create jobs even in an economic downturn. This is only possible because of the City’s Growth Business Contract initiative and the Community Development Department’s faith in our consulting staff.” The Fashion Business Inc. is a non-profit technical assistance and educational provider for the Los Angeles Garment Industry.   The FBI seeks to strengthen what is already the nation’s capital for the Garment Industry.   Its goal is to create hundreds of new garment jobs over the next two years and spark $ 6 million in new investment in plant, equipment and technology so that LA can retain its position of national dominance.
The FBI, in partnership with the City’s largest economic development provider, the Valley Economic Development Center, is received funding from the City of LA’s Community Development Department, as part of its Growth Business Component. Funded by the US Department of Housing and Urban Development, this grant is specifically geared to create and save jobs for low and moderate income workers within distressed portions of the City of Los Angeles.

Recently, American Apparel re-launched its kids division, debuting their new line of T-shirts and related apparel for infants and kids during L.A. Fashion Week at the L.A. Emerging Designers Fashion Show.   American Apparel is continuously evolving the American Apparel brands, Classic Girl, Standard American and Classic Baby expanding on the company’s design talents and exclusive fabric innovations. For further information on American Apparel visit www.americanapparel.net.