Caterpillar FTZ approved in Victoria CountyCaterpillar FTZ approved in Victoria Countyhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=89062012-11-29T07:15:00Z2012-11-29T00:00:00Z

VICTORIA - Victoria County companies importing goods from overseas now have an opportunity to cut and even eliminate some taxes, thanks to an international trade zone.

Victoria County Commissioners have given approval to activating a 28-acre foreign-trade zone (FTZ) on US 59, near Victoria Regional Airport, for Caterpillar Inc.

The site includes 255,000 sf of manufacturing, office and warehouse space with an improved laydown yard. The site is not yet activated.

"It allows Caterpillar to import foreign-origin goods without paying duty until it's shipped outside the foreign-trade zone," said Victoria Economic Development Corp. President Dale Fowler.

According to the Calhoun-Victoria Foreign-Trade Zone Inc. website, these zones help U.S. businesses compete in the global market.

The primary manufacturing industries that benefit from these zones are oil refining, vehicles/automotive parts, consumer electronics and pharmaceuticals, according to the 2012 Texas Foreign-Trade Zone Report.

Listen to Podcast 152 for this story...and more!

Victoria Advocate
http://www.victoriaadvocate.com/news/2012/nov/19/mc_commcourt_112012_194374/Read more at {Source}

 Search NewsTalk Texas