10 West Tennessee Industrial Parks Declared Foreign Trade Zones
The federal government has approved 10 industrial parks in West Tennessee for designation as foreign trade zones. The U.S. Foreign Trade Zone Board issued the decision for the Port of Cates Landing in Lake County and other industrial parks in Dyer, Obion, Gibson and other west Tennessee counties. Northwest Tennessee Regional Port Authority Chair Jimmy Williamson tells The Commercial Appeal the designation will help companies compete in the global marketplace. The foreign trade zone designation allows businesses in the zone to delay or reduce duty payments during international transactions.