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Mon July 8, 2013
County to be included in trade zone
The inclusion of Hunt County as part of a foreign trade zone could be finalized during Tuesday’s meeting of the Hunt County Commissioners Court.
Local government leaders took the initial steps last summer to include the county under the zone, as part of a planned development west of Greenville. Tuesday, the Commissioners plan to conduct a workshop concerning Foreign Trade Zone 39, starting at 9 a.m., and then take a vote to formally include the county under the zone, during the regular agenda starting at 10 a.m. in the Auxiliary Courtroom, 2700 Johnson Street in Greenville.
The creation of the zone has involved a process which has taken years to develop. The Greenville City Council voted in June 2012 to amend the bylaws of the Greenville 4A Economic Development Corporation, allowing the agency to act as a grantee for the zone. Under foreign trade zones, foreign and domestic merchandise is considered to be outside the country, and therefore outside of U.S. Customs territory for purposes of duty payment.
Within the zones companies are able to manufacture, assemble, test, sample, process, and repackage. The Board of Development voted in December 2010 to act as the grantee for the zone and to proceed with the application process in the establishment of a zone.
The Council approved the agency’s request to serve as the grantee in September 2011 and IMS Worldwide Incorporated initiated the application process for the establishment of the zone, but the amendment of the bylaws last June was necessary for the agency to act as the grantee for the zone, allowing the Board of Development to basically act as a board of directors for zone, after its application with the United States government to establish the zone was approved.
The Hunt County Commissioners Court voted in September 2011 to support the application of Walton Development & Management and the Board of Development for the establishment of a Foreign Trade Zone site.