Salt Lake City Mayor Ralph Becker announced today that Salt Lake City has received approval to reactivate its Foreign-Trade Zone (FTZ) from the Foreign-Trade Zones Board of the U.S. Department of Commerce. Salt Lake City's zone project is designated FTZ #30.
"This is great news for Salt Lake City and Utah businesses" commented Mayor Becker. "A Foreign-Trade Zone in Utah is a significant advantage to companies who are doing business in international trade or thinking about that opportunity. It is a great complement to the other assets we have in place as a global city."
A Foreign-Trade Zone is a designated site licensed by the U.S. government that offers U.S.-based businesses advantages in competing with foreign firms in international trade. A designated zone can defer, reduce, or eliminate customs duties, improve cash flow, lower inventory costs, and streamline customs procedures.
The Salt Lake City Foreign-Trade Zone is located at a 55 acre site at 1105 South 4800 West and is planned for development of 1.2 million square feet of warehouse, distribution and/or light manufacturing facilities. The newly reactivated zone replaces one that was begun in 1977 at the International Center but has been inactive since 1995. The new FTZ is managed and developed by The Rockefeller Group, an organization with more than 30 years of success in marketing and developing FTZs in the United States.
"We are fortunate to have such an experienced partner as The Rockefeller Group serving as the manager and developer of the zone site" said Bob Farrington, Salt Lake City Economic Development Director. "The Rockefeller Group has the experience, expertise, and motivation to make this work for all concerned."
Brandi Hanback, Managing Director of Rockefeller Group Foreign Trade Zone Services, has been coordinating the Salt Lake City FTZ approval process. She also serves as Chairman of the Board of the National Association of Foreign-Trade Zones. The Rockefeller Group will identify future operators and users of the zone and work with those companies to realize FTZ benefits.
"This is a significant benchmark in Utah's international efforts," commented Utah Governor Jon Huntsman upon hearing of Salt Lake City's FTZ approval. "I am convinced that our future growth will be linked to our worldwide trading partners."
To view this article, visit Utah Pulse at http://www.utahpulse.com/featured_article/salt-lake-city-foreign-trade-zone-receives-reorganization-approval-us-commerce-depa
Wednesday, March 25, 2009
Tuesday, March 24, 2009
FTZB Receives Application to Expand Activity in Illinois Zone
The Foreign-Trade Zones Board has received an application from the Tri-City Regional Port District, grantee of FTZ 31, requesting authority on behalf of WRB Refining LLC to expand the scope of manufacturing activity conducted under zone procedures within Subzone 31B at the WRB oil refinery complex at sites in Madison County, Ill. Comments on this application are due by May 19.
The refinery is undergoing an expansion that will add units and upgrade existing units within the subzone boundaries and is expected to expand crude production capacity up to 380,000 barrels per day. Zone procedures would exempt the increased production from customs duty payments on the foreign products used in its exports. On domestic sales of the increased production the company would be able to choose the duty rates for certain petrochemical feedstocks (zero) by admitting foreign crude oil in non-privileged foreign status.
To view this article, visit WorldTrade/Interactive at http://www.strtrade.com/wti/wti.asp?pub=0&story=30574&date=3%2F20%2F2009&company=
The refinery is undergoing an expansion that will add units and upgrade existing units within the subzone boundaries and is expected to expand crude production capacity up to 380,000 barrels per day. Zone procedures would exempt the increased production from customs duty payments on the foreign products used in its exports. On domestic sales of the increased production the company would be able to choose the duty rates for certain petrochemical feedstocks (zero) by admitting foreign crude oil in non-privileged foreign status.
To view this article, visit WorldTrade/Interactive at http://www.strtrade.com/wti/wti.asp?pub=0&story=30574&date=3%2F20%2F2009&company=
Monday, March 23, 2009
Regular County Board Meeting of the Koochiching County Board of Commissioners
In the March 3, 2009 Board Meeting, public comment was made on the County Highway's 332 Project and included information about possible routes to the Foreign Trade Zone. Below are the comments recorded. For a complete transcript of the meeting, visit the The Daily Journal online.
The Board Chair called for public comment at 11:50 a.m. Russ Tilander, an employee of Boise’s Processing Center, stated support for the County’s Highway 332 Project as the Burner Road needs to be vacated to Boise for safety reasons. He informed the Board 120,000 cords of wood cross the Burner Road in a year and the concern of Boise employees working in this area for the public’s safety is increasing as the number of crossings increase. Board members stated that due to concerns expressed by the International Falls business owners last week and learning of the Border Customs expansion study, the Board today appointed members to attend the Custom Station Expansion Study meetings to propose an idea of designing the Custom Station expansion to accommodate a redesign of the bridge line making Highway 53 the feasible route to take to get in the bridge line to Canada, which should alleviate concerns that tourists will use the County’s Highway 332 Route to get in line.
The Board members stated that there are so many interests that have come into play around this road project and the County Board is doing their best to weigh them all. The Highway Engineer stated that he is moving forward on presenting road design plans to satisfy the MNDot Commissioner’s order to submit plans within 60 days, and knowing the City of International Falls is requested denial of the order through the Court of Appeals. Terry Randolph, VFW Commander, informed the Board of upcoming veteran events such as Vietnam Veteran Welcome Home Day, Veterans Loyalty Days and plans to hold another Stand Down. Aarden Barnes asked whether county roads in French Addition were looked at as possible routes to the Foreign Trade Zone.
The Engineer stated that this was looked at when he was asked to review potential routes and it was concluded that this residential area was not conducive to a high truck traffic road. Ms. Barnes asked if the County considered purchasing private property for sale by the Highway 11 Overpass to construct an emergency service road for Ranier and the lake area. Board members stated that talks continue with the railroad and that this option was looked at, however, the estimated cost is high.
The Board Chair called for public comment at 11:50 a.m. Russ Tilander, an employee of Boise’s Processing Center, stated support for the County’s Highway 332 Project as the Burner Road needs to be vacated to Boise for safety reasons. He informed the Board 120,000 cords of wood cross the Burner Road in a year and the concern of Boise employees working in this area for the public’s safety is increasing as the number of crossings increase. Board members stated that due to concerns expressed by the International Falls business owners last week and learning of the Border Customs expansion study, the Board today appointed members to attend the Custom Station Expansion Study meetings to propose an idea of designing the Custom Station expansion to accommodate a redesign of the bridge line making Highway 53 the feasible route to take to get in the bridge line to Canada, which should alleviate concerns that tourists will use the County’s Highway 332 Route to get in line.
The Board members stated that there are so many interests that have come into play around this road project and the County Board is doing their best to weigh them all. The Highway Engineer stated that he is moving forward on presenting road design plans to satisfy the MNDot Commissioner’s order to submit plans within 60 days, and knowing the City of International Falls is requested denial of the order through the Court of Appeals. Terry Randolph, VFW Commander, informed the Board of upcoming veteran events such as Vietnam Veteran Welcome Home Day, Veterans Loyalty Days and plans to hold another Stand Down. Aarden Barnes asked whether county roads in French Addition were looked at as possible routes to the Foreign Trade Zone.
The Engineer stated that this was looked at when he was asked to review potential routes and it was concluded that this residential area was not conducive to a high truck traffic road. Ms. Barnes asked if the County considered purchasing private property for sale by the Highway 11 Overpass to construct an emergency service road for Ranier and the lake area. Board members stated that talks continue with the railroad and that this option was looked at, however, the estimated cost is high.
Fremont tries home-grown stimulus help
FREMONT — City leaders hope a package of incentives they have crafted can jump-start business activity in Fremont.
The incentives can’t come soon enough for the city’s sizable small-business sector, said Dirk Lorenz, owner of Fremont Flowers and Gifts in the city’s Centerville district. A former member of the Fremont Chamber of Commerce’s board of directors, Lorenz said many small-business owners tell him their revenue has dropped 20 percent to 30 percent compared with last year.
City officials hear their pleas. Like their counterparts in the federal government and cities such as Boston, San Francisco and even the tiny burg of Lakeport near Clear Lake, members of the Fremont City Council approved a stimulus package March 3 as a way to counteract one of the worst economic downturns.
The package contains temporary and permanent provisions, including reducing developer impact fees, deferring the collection of those fees, exempting cleantech firms from paying the city’s business license tax, and increasing the city’s efforts to purchase products and services from Fremont businesses. The fee reductions and exemptions for business in the city of will remain in effect until at least Dec. 31, 2011.
Another proposal is to establish a foreign trade zone that would assist the city’s manufacturing sector. If approved the regulations would allow foreign and domestic goods to be brought in without formal customs entry or incurring customs duties, excise taxes or tariffs.
To read the entire article, visit the San Jose Business journal here.
The incentives can’t come soon enough for the city’s sizable small-business sector, said Dirk Lorenz, owner of Fremont Flowers and Gifts in the city’s Centerville district. A former member of the Fremont Chamber of Commerce’s board of directors, Lorenz said many small-business owners tell him their revenue has dropped 20 percent to 30 percent compared with last year.
City officials hear their pleas. Like their counterparts in the federal government and cities such as Boston, San Francisco and even the tiny burg of Lakeport near Clear Lake, members of the Fremont City Council approved a stimulus package March 3 as a way to counteract one of the worst economic downturns.
The package contains temporary and permanent provisions, including reducing developer impact fees, deferring the collection of those fees, exempting cleantech firms from paying the city’s business license tax, and increasing the city’s efforts to purchase products and services from Fremont businesses. The fee reductions and exemptions for business in the city of will remain in effect until at least Dec. 31, 2011.
Another proposal is to establish a foreign trade zone that would assist the city’s manufacturing sector. If approved the regulations would allow foreign and domestic goods to be brought in without formal customs entry or incurring customs duties, excise taxes or tariffs.
To read the entire article, visit the San Jose Business journal here.
Sunday, March 22, 2009
Wolverine World Wide warehouses get foreign trade zone status
When Wolverine World Wide Inc. consolidates all its North American distribution in West Michigan, warehouses here technically will be newly designated foreign trade zones.
Distribution centers in Rockford, Cedar Springs and Howard City are in the new subzone, a free-trade status that will save money and eventually, the company said, add jobs.
"In the past we've had to pay duty upon entrance to the U.S.," said Jeff Gorski, senior director of integrated logistics. "When it hits the Port of Seattle or Long Beach (Calif.), we had to pay duty."
That fee ranged from 8 to 36 percent. Now, boxed pairs of shoes will land in the region's distribution centers duty-free, at least for a while.
"We will not pay duty until we ship them out to our end customer in the U.S.," Gorski said.
And if the shoes are bound for feet beyond U.S. borders, the whole duty-paying exercise is avoided. No duty paid inbound; no duty owed outbound.
"The foreign trade zone is a big thing," company spokeswoman Christi Cowdin said.
It will allow us to bring additional jobs to Michigan in support of that."
Wolverine's distribution centers are in a subzone of the general-purpose foreign trade zone for Kent, Ottawa, and Muskegon counties.
To read the complete article, see the West Michigan Business online.
Distribution centers in Rockford, Cedar Springs and Howard City are in the new subzone, a free-trade status that will save money and eventually, the company said, add jobs.
"In the past we've had to pay duty upon entrance to the U.S.," said Jeff Gorski, senior director of integrated logistics. "When it hits the Port of Seattle or Long Beach (Calif.), we had to pay duty."
That fee ranged from 8 to 36 percent. Now, boxed pairs of shoes will land in the region's distribution centers duty-free, at least for a while.
"We will not pay duty until we ship them out to our end customer in the U.S.," Gorski said.
And if the shoes are bound for feet beyond U.S. borders, the whole duty-paying exercise is avoided. No duty paid inbound; no duty owed outbound.
"The foreign trade zone is a big thing," company spokeswoman Christi Cowdin said.
It will allow us to bring additional jobs to Michigan in support of that."
Wolverine's distribution centers are in a subzone of the general-purpose foreign trade zone for Kent, Ottawa, and Muskegon counties.
To read the complete article, see the West Michigan Business online.
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