The executive director of the Paducah-McCracken County Riverport Authority said the economic impact of the city’s new foreign trade zone designation ultimately depends on local businesses.
Foreign-Trade Zones are legally considered outside of United States of Customs territory. This means goods may be brought on to the site duty-free and without formal Customs entry. Riverport Authority Executive Director Bill Miller said he hopes the zone will bring in more business to the region.
“Here in the Purchase Area are quite a few companies that could benefit from a foreign trade zone,” Miller said. “It’s just a matter of getting in touch with those companies and have them look at it. It’s a decision that the companies themselves will have to make on it.”
Miller said he encourages anyone importing goods to consider the zone and contact the Riverport Authority. Paducah became the fourth foreign trade zone in Kentucky around this time last year.