Governor McCrory Announces Expansion of Foreign Trade Zone | Eastern NC Now

    Raleigh, N.C.     Governor Pat McCrory announced today that southeastern North Carolina has received approval to expand Foreign-Trade Zone 214, making the region more attractive to businesses looking to relocate or expand and increasing the region's competitiveness in global trade. Foreign-trade zones stimulate economic growth and development by offering companies tariff and tax relief on the storage and operation of commercial merchandise, both domestic and foreign, within the zone.

    "Expansion of southeastern North Carolina's foreign-trade zone supports our goal to create jobs by helping attract new businesses and encouraging existing companies to expand," Governor McCrory said. "This announcement will help connect North Carolina to more global trade and help our state attract manufacturing jobs returning to the United States."

    By order of the U.S. Foreign-Trade Zone Board, the 22-county area can now offer foreign-trade zone services for companies looking to expand or relocate their business in southeastern North Carolina. The service area has been expanded to include the Counties of Pender, New Hanover, Brunswick, Duplin, Columbus, Bladen, Robeson (the portion east of Interstate 95), Beaufort, Pitt, Hyde, Onslow, Jones, Craven, Pamlico, Lenoir, Carteret, Wilson, Edgecombe, Nash, Wayne, Greene and Cumberland, overseen by the United States Customs and Border Protection at the Wilmington, Morehead City and Raleigh-Durham ports of entry.

    "Simply stated, the time it takes a company to attain the benefits of foreign-trade zone status is currently measured in months," Transportation Secretary Nick Tennyson said. "Under the new model, it will be measured in weeks. This designation will be a game changer for local economic developers who will use this tool to attract companies that cannot afford to wait months for approval of their FTZ site."

    Foreign-trade zones are sites near a U.S. Customs port of entry where foreign and domestic merchandise is considered in international trade. They promote U.S. companies' participation in trade by eliminating or reducing the costs and administrative work associated with U.S. trade laws.

    Foreign-trade zone 214 has been open for business since 1994 and its sites are currently supporting more than 2,500 jobs in the region. The zone's primary purpose is to work with community leaders to attract manufacturing businesses. Foreign-Trade Zone 214's impact on the region's economy has been substantial and under the new order, it can now offer a faster way for companies to attain foreign-trade zone status.

    In addition to reducing the processing time for companies, the order also adds three magnet sites, which include Radio Island at the Port of Morehead City, Wilmington International Airport (ILM) and Craven County Industrial Park. These sites join the current magnet sites at the Ports of Wilmington and Morehead City and at the Global TransPark. Magnet sites allow multiple companies to take advantage of a faster and more robust logistical system that is run by a third-party operator.

    The zone's new, more agile business model was driven by recommendations from Governor McCrory's 25 Year Vision for North Carolina: Mapping Our Future, as well as the governor's North Carolina Jobs Plan announced in 2014.

    You can find out more information about FTZ 214 here.

• Contact: Crystal Feldman
•     govpress@nc.gov