Foreign Trade Zone Service Territory

The Woodbury County Board on Tuesday approved a plan to become part of the Northwest Iowa Development Corporation foreign trade zone service territory. The county will pay a $3,500 fee to be added into the group. The Northwest Iowa foreign trade zone is the newest such zone in America, created in 2013 with six counties. The chief benefit is the ability for the county to reduce and sometimes elimin...ate costly customs tariffs/taxes on products brought to the area for manufacturing. “That will reduce the cost of manufacturing items, making business growth within the county more likely,” Rural Economic Development Director, David Gleiser said. “As business markets continue to become more global each and every day, local businesses are looking to expand their products and services beyond just our local markets,” Gleiser saidSee More
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