Arizona Foreign Trade Zone to Expand
Nogales, AZ – The Nogales Santa Cruz County Economic Development Foundation (EDF), the grantee of Foreign Trade Zone 60, has received authorization to reorganize the Nogales Foreign Trade Zone (FTZ) 60 to include all of Arizona’s Santa Cruz County.
The move means that U.S. firms and distribution operations can apply for activation anywhere in the 1,238 square miles of Santa Cruz County.
Companies operating in the Nogales Foreign Trade Zone 60 “enjoy expedited international trade benefits, including tariff advantages, increased flexibility and reduced paperwork. These benefits increase global competitiveness and help companies create jobs in the United States,” the EDF said.
Robert C. Martin, an attorney and board member of the EDF responsible for the reorganization noted, “We are excited at the economic opportunities offered to all of Santa Cruz County with the conversion to the Alternative Site Format (ASF) for Foreign Trade Zone 60.
This allows EDF to petition for the activation of an unlimited number of sites up to a standard cumulative 2,000-acre activation limit.
The benefits of operating within a FTZ “will enable job creation in Santa Cruz County and increase the competitiveness of the growing international trade industry in our region. The expanded FTZ will further the growth of our emerging ‘logistics cluster’ and enable us to capitalize on the increase of the ‘near-shoring’ maquila trends in Mexico,” said Martin.
The conversion to the ASF Format will allow potential operators increased speed and flexibility and cost-savings in applying for activation of an FTZ operation.”
Two companies currently operate within the Nogales Foreign Trade Zone 60, and a third business has been negotiating with the EDF to operate soon.
The recent 75th Annual Trade Zones Board report to Congress shows the two companies have 26-30 employees in the original trade zone, with exports of $100 million-$250 million in 2013.
Need a Logistics Provider?
Compare over 100 Instantly
How Businesses can Adapt and Prosper in a Post-Pandemic Economy