The City of Grand Junction is exploring the possibility of establishing a foreign-trade zone that allows special customs treatment and could promote economic development.
Business owners and managers interested in the proposal are asked to complete a short questionnaire. The questionnaire and more information is available online at the Web site located at www.gjcity.org/EcoDev/ForeignTradeZones.
Foreign-trade zones are established for geographic areas, including industrial parks and individual businesses. The nearest foreign-trade zones are in Denver and Salt Lake City.
The U.S. Commerce and Treasury departments approve foreign-trade zones, while Custom and Borer Protection activate zones. Special customs treatment in the zones, including a reduction in duty payments, can offer benefits to specific businesses as well as the more general economy of an area.