Parts of West TN Names Foreign Trade Zone
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WEST TENNESSEE – A new designation could help local industrial sites and bring new jobs to the area. Ten sites in West Tennessee including the Port of Cates Landing, the Memphis Megasite in Haywood County and several industrial parks in the area have been designated as Foreign Trade Zones. Experts say the designation will make the designated areas more attractive to larger industries because of eased regulations for importing and exporting goods. “What we’re trying to do is kind of get ahead of the curve, anticipate the needs of global business and show that even in rural West Tennessee, we have the necessary tools for companies to do business,” said Mike Philpot, Executive Director of the West Tennessee Industrial Association. In all ten sites have received the Foreign Trade Zone designation. They are in Dyer, Gibson, Haywood, Madison and Obion counties. “Instead of just sitting back and hoping things come to us, we’re aggressively and proactively going after business opportunities,” added Philpot. “The Foreign Trade Zone program is just another asset that makes us competitive.”
