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Fresno, California, Area Attempts to Gain Foreign Trade Zone Benefits.(Originated from The Fresno Bee, Calif.)
Apr. 1--Fresno and Madera could be the recipients of Merced County's efforts to develop a foreign trade zone at Castle Air Force Base.
Fresno Mayor Jim Patterson said Monday that the city is attempting to get about 500 acres near Fresno Yosemite International Airport designated as a foreign trade zone.
If approved by the U.S. Department of Commerce, businesses inside the zone don't have to pay duty on imported materials until they become components in an end product and are sold.
Patterson said the designation would enhance local economic development efforts. "With the elimination of tariffs... businesses will be more competitive in the world markets," said Patterson.
Many …
