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Paducah-McCracken County Riverport Authority Approved for Foreign-Trade Zone

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The U.S. Department of Commerce Foreign-Trade Zone Board has approved the Paducah-McCracken County Riverport Authority to establish a foreign-trade zone. The riverport authority has been working for approval since 2011.

Riverport Authority executive director Bill Miller says imports and exports held within the zone are not taxed until they leave the facility for final use, making the zone a good business recruitment tool.  He says the zone should foster manufacturing and distribution jobs throughout the area.

“If a company wanted to set up an import business in Murray, then what would happen is that they would apply for us and we would get them signed up and approved by the trade zone board as an off site area. So, it can extend outside the current riverport property limits,” Miller said.

Paducah Economic Development’s Scott Darnell says the zone will give Paducah a competitive advantage when attracting new business. His agency plans to incorporate the zone into their marketing strategy for the city.

There are three other foreign-trade zones in Kentucky, including Louisville, Boone County, and Greenup and Boyd Counties jointly. Miller says he hopes to have Paducah’s foreign-trade zone fully established within the next 3 to 9 months.

 

A proud native of Murray, Kentucky, Allison grew up roaming the forests of western Kentucky and visiting national parks across the country. She graduated in 2014 from Murray State University where she studied Environmental Sustainability, Television Production, and Spanish. She loves meeting new people, questioning everything, and dancing through the sun and the rain. She hopes to make a positive impact in this world several endeavors at a time.
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