Photo: Site selection.com
El Paso’s Foreign Trade Zone (FTZ No. 68) has emerged as #1 in Exports and #2 in Merchandise Received for the year 2014. The findings were recently reported to Congress by the U.S. Foreign Trade Zones Board.
“We have stayed focused on what we do best by implementing innovative customer service, fostering business relationships, and promoting the zone’s competitive advantages.” said Jose Quinonez, who manages the Foreign Trade Zone.
Quinonez added, “This all falls in line with the City’s strategic goal of creating an environment conducive to strong, sustainable economic development.”
This ranking illustrates the value of the zone to companies that use FTZ No. 68 strategically to eliminate, reduce, and defer customs duties and improve bottom line profitability. The Border Region is one of North America’s largest manufacturing hubs and home to a large concentration of companies that import and export a high volume of automobile parts and electronics.
FTZ No. 68 is administered by El Paso International Airport and includes the Butterfield Trail Industrial Park, the EPIA Air Cargo Complex, and the new shovel-ready Global Reach Science & Technology Park.
First authorized by Congress in 1934, Foreign Trade Zones exist to help American and foreign companies improve their competitive position in the global market economy.
Author: City of El Paso