Seminar Showcases Foreign-Trade Zone Opportunities
Contact: Nancy Schnoebelen
Vice President Marketing & Communications
(314) 615-7617, nschnoebelen@slcec.com
March 30, 2009
FOR IMMEDIATE RELEASE
This morning, real estate professionals, logistics firms and other local companies gathered at Hilton Garden Inn St. Louis Airport to learn how they can take advantage of St. Louis' recently expanded Foreign-Trade Zone (FTZ). The FTZ expansion sites include developable land and leasable space at NorthPark, Hazelwood Commerce Center, Lindbergh Distribution Center, and Lambert-St. Louis International Airport.
The seminar, hosted by St. Louis County Economic Council and St. Louis County Port Authority, featured Scott Taylor, a partner with Kansas City-based Miller & Company P.C. An expert in foreign-trade zone law, Taylor's presentation outlined the specifics of the FTZ program and the many benefits, incentives and opportunities of locating within one of these designated zones.
"The ability to defer, reduce or eliminate customs duties on certain imported goods are among the many cost-saving benefits to businesses," said Taylor. "These products can be admitted into zones for storage, exhibition, assembly, manufacturing, or processing."
The expanded FTZ also is a positive step in establishing the St. Louis region as a strong competitor for the Midwest air cargo hub for commercial trade with China.
"The expansion of the Foreign-Trade Zone will further enhance trade and export opportunities and create competitive advantages for Midwest businesses," said St. Louis County Executive Charlie A. Dooley. "This is an opportunity for St. Louis to establish itself as a key strategic location in the emerging global economy."
Taylor's FTZ presentation can be accessed by going to the SLCEC Web site.
About St. Louis County Economic Council (SLCEC)
Founded in 1984, SLCEC provides innovative solutions to companies and communities through business development, financing programs, business incubator opportunities, real estate and community development programs, and international expertise through the World Trade Center Saint Louis.
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