O'Brien County Part of Newest Foreign-Trade Zone


O'Brien County Part of Newest Foreign-Trade Zone

 

January 13, 2014

 

Primghar, Iowa, January 13, 2014 –O’Brien County is part of a six county region that has recently been designated a Foreign-Trade Zone (FTZ). The Foreign-Trade Zones Board approved Northwest Iowa Development’s (NWID) application to establish a Foreign-Trade Zone under the Alternative Site Framework late last year. This new Foreign-Trade Zone encompasses the northwest Iowa counties of Cherokee, Lyon, O’Brien, Osceola, Plymouth and Sioux and is adjacent to the Sioux Falls Customs and Border Protection port of entry. It is only the fourth FTZ in Iowa and the sole FTZ that covers a rural area.


A Foreign-Trade Zone is a specific area in or adjacent to a U.S. port of entry and is treated as though that area is outside of the commerce of the United States. This has a positive impact on businesses that import materials as they do not pay duties or local taxes on that imported material until the point of sale. O’Brien County Economic Development Executive Director, Kiana Johnson, said, “We are excited that O’Brien County is included in this new Foreign-Trade Zone. It is a great opportunity for existing business in the region and another tool for us to use in attracting new business and industry. We would like to get the word out to existing businesses that may want to make an application to use the FTZ and are also confident that this status will enable the Northwest Iowa region to engage effectively in the global marketplace.”


O’Brien County Economic Development Corporation has provided funding for membership dues to NWID for O’Brien County since 2005, giving each community in our county representation and access to all the membership benefits. Northwest Iowa Development is a group of six counties creating a unified, targeted approach to developing and branding/marketing the Northwest Iowa region to attract quality new corporate locations and expansions and to attract skilled talent to support business growth. The counties that encompass NWID are Cherokee, Lyon, O’Brien, Osceola, Plymouth and Sioux.


For additional information on the Northwest Iowa Foreign Trade Zone, contact Kiana Johnson, O’Brien County Economic Development at 712.957.1313 or e-mail ocedc@tcaexpress.net .