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Ottumwa to get a foreign trade zone
Posted: 01.17.2012 at 4:19 PM
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OTTUMWA, IOWA -- Wapello County Supervisors are discussing having a Foreign Trade Zone set up at the Ottumwa Airport.
There is currently a trade zone that covers a few acres at the East Iowa Airport in Cedar Rapids. They are looking to expand to 28 counties across Southeast Iowa.
Companies that import and export to and from foreign countries would pay a fee to the trade zone to be exempt from the tariffs and customs they would usually have to pay. Setting up the zone requires no taxpayer or county money.
"It does offer a real benefit to, primarily to manufacturers in those 28 counties, so logically, the two Cargill plants, John Deer, maybe some others, could find some significant benefits to getting involved with this foreign trade zone," Wapello County Supervisor Steve Siegel said.
Once all the arrangements are made, it would take about a year and a half to get the Foreign Trade Zone started.