Foreign Trade Zone
Gibson County has been named among other locations in Tennessee as a Foreign Trade Zone, including the Memphis Regional Megasite. This designation as part of Foreign Trade Zone Number 283 enables companies locating in those areas to receive equipment, raw materials, inventory and elements that might be added to the manufacturing or distribution process without paying federal duties until the finished product is sold. A duty is a federal tax generally charged on foreign trade items. This status now enables rural communities, like those Trenton, Humboldt and Milan TN to offer the same logistical and competitve advantages as larger cities like Memphis, Nashville or Atlanta. Operation of the 10-area trade zone will be overseen by the U.S. Border Patrol’s Memphis office.
For more information about how your company can take advantage of Foreign Trade Zone benefits, contact Gibson County Mayor Tom Witherspoon.