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NEWS RELEASE

City of Goodyear, Arizona

Communications Office

           

For Immediate Release: Jan. 11, 2011

 

 

 

Foreign Trade Zone helps Goodyear attract jobs

 

 

GOODYEAR, ARIZ. (Jan. 11, 2011) Goodyear is among a select group of communities recently approved for a new Foreign Trade Zone (FTZ) in the West Valley. The Greater Maricopa Foreign Trade Zone (GMFTZ) was formed and is administered by WESTMARC, and comprised of several West Valley communities. GMFTZ was approved by the U.S. Department of Commerce's Foreign Trade Zones Board on Dec. 22, 2010. Goodyear has two General Purpose FTZ locations: Palm Valley 303 and Goodyear Gateway South. Goodyear Crossings Industrial Park has also applied to the Foreign Trade Board for General Purpose FTZ status within the GMFTZ.

 

 

The incentives offered by the FTZ designation will help Goodyear attract more businesses, like Sub-Zero, Inc., the Wisconsin-based maker of luxury refrigerators and freezers, which was attracted by the FTZ and is already planning to bring more than 300 jobs to the area when it opens its new facility in Goodyear this year.

 

 

The FTZ designation is a valuable tool that is useful in attracting and retaining businesses, and creating new job opportunities. Businesses in FTZs are treated as though they are outside U.S. Custom's territory, and merchandise that is being repacked, assembled, manufactured, displayed, or placed in storage can be brought into the FTZ duty-free. Imports can be moved more quickly, without full customs formalities. Businesses in Arizona FTZs are also eligible for substantial reductions on real and personal property taxes.

 

 

 

 

 

 


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City of Goodyear • 190 N. Litchfield Road • Goodyear AZ 85338 • Phone 623-932-3910 • Toll-Free 1-800-872-1749