LaGrange County Designated a Foreign Trade Zone

02/03/2014
ADAPTED FROM THE CITY OF FORT WAYNE PRESS RELEASE  
 
Northeast Indiana Foreign-Trade Zone Approved for Expansion
 

Fort Wayne, Ind. – Four northeast Indiana counties, including LaGrange County are now part of the area’s Foreign-Trade Zone, providing businesses located in those counties with tools to help them compete globally.

The U.S. Department of Commerce recently approved the City of Fort Wayne’s application for expansion of Foreign-Trade Zone 182 to Blackford, Jay, LaGrange and Steuben counties. Until now, the zone had a service area that covered eight counties (Adams, Allen, DeKalb, Huntington, Noble, Wabash, Wells and Whitley).

A U.S. Foreign-Trade Zone is a site within the United States that is legally considered outside of Customs territory for the purpose of duties, so goods may be brought into the site duty-free and without formal customs entry. Foreign-Trade Zones provide users with the opportunity to lower costs and boost profits by allowing them to reduce, eliminate or defer the Customs duties they would have otherwise paid.

The City of Fort Wayne is the Grantee for FTZ-182 and the program is managed by Elissa McGauley, Economic Development Specialist. The City of Fort Wayne, along with Greater Fort Wayne Inc. works closely with Fort Wayne International Airport and economic development organizations in the service area to promote the Foreign-Trade Zone throughout the region.

Recently, the local trade zone was branded as BizFTZ. The website www.bizFTZ.com provides complete information about Foreign-Trade Zones and links businesses to resources that can help a company understand, evaluate and start the process to operate in the zone.

"We are thrilled to receive this designation.  This provides another tool in the toolbox for our economic development efforts to create and sustain a vibrant and viable business community," said Keith Gillenwater, President and CEO of the LaGrange County Economic Development Corporation.  "Its a great day for Northeast Indiana!"






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