Foreign Trade Zone
The Dane County Regional Airport recently gained a key economic development tool.
The U.S. Department of Commerce granted authority in December 2005 for Dane County, through the airport, to establish a Foreign Trade Zone (FTZ). An FTZ is a specific area within the United States, located in or near a port of entry, where certain types of merchandise can be imported without going through formal customs entry procedures or paying import duties. Companies located in such zones are typically not charged tariffs on their product inventory until it is sold, which improves a company's cash flow and saves substantial dollars.
The five sites approved in the initial application are:
- Two properties, totaling 123 acres, owned by the Dane County Regional Airport in proximity of the airport.
- Five parcels, totaling 47 acres, owned by Capitol Warehousing Corporation, in the Village of DeForest, about three miles north of the airport.
- Arlington Prairie Industrial Park, containing 213 acres in Columbia County.
- Center for Industry and Commerce, totaling 90 acres, owned and marketed by the City of Madison, in an area east of Hwy 51 and west of I-39, north of Hanson Road and south of Hoepker Road, near the airport.
- Two parcels, totaling 126 acres, owned by MadCap1 and CapWin19 in the Village of DeForest.
More parcels can be added later within the eight counties included in the new South Central Wisconsin FTZ, including Dane, Sauk, Columbia, Dodge, Iowa, Jefferson, Green and Rock.
For information contact Rodney F. Knight, Airport Counsel, at (608) 246-3388, or email@example.com.