TEDA Seeking Foreign-Trade Subzone Status

Once a year, community leaders from Terrebonne and Lafourche embark upon a mission to Washington, D.C. with hopes of persuading our federal leaders to help get funding for projects, change laws and consider federal applications. This year’s trip, organized by the Houma-Terrebonne Chamber of Commerce, began on March 29.

Focused on identifying and promoting opportunities for business and industry, Terrebonne Economic Development Authority's (TEDA) itinerary included meetings with the Department of Transportation’s marine administration, Senators Mary Landrieu and David Vitter, Representative Charlie Melancon, Invest in America, the Small Business Administration, the Department of Labor, the Foreign Trade Zone-Department of Commerce, EX-IM Bank and the USDA.

Two meetings in particular, one with the Foreign Trade Zone-Department of Commerce, and another with EX-IM Bank, laid the foundation for immediate-action items upon Ferdinand’s return to Terrebonne. For three years, TEDA has pursued Foreign Trade Subzone status for several Terrebonne businesses.

“Its value is a marketing tool to attract and retain businesses to Terrebonne in order to manufacture, sell, and collect taxes on the items it produces,” Ferdinand commented.

In the meeting, several opportunities were realized for Terrebonne. As a result, TEDA is pursuing a new platform within the program for Terrebonne to receive FTZ status.

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