Triad grows its foreign trade zone
The Piedmont Triad Partnership has received approval to expand its foreign trade zone, adding sites in Alamance, Davie and Guilford counties and casting a wider net of incentives for companies to locate and expand here.
The approval, from the U.S. Department of Commerce, expands the physical area in the Triad that is treated as though it's outside the country's borders. That's a boon to businesses including the Lexington Business Center, the Kivett Drive Industrial Park, the Piedmont Triad West Corporate Park and, of course, Piedmont Triad International Airport.
Companies located in the area - dubbed Foreign Trade Zone 230 - reap benefits including simplified importing and exporting of goods and the option to save or defer payments of customs duties. Operations in such trade zones typically include storage and distribution activities, but they also can include manufacturing.
New sites in the local expansion include SouthPoint Industrial park in Davie County; properties in Piedmont Centre, Piedmont Corporate Park and Premier Center in Guilford County; and three Alamance County distribution centers owned by TST Logistics.