The Rush County Economic and Community Development Corporation (ECDC) was recently the recipient of an $8,300 grant from the Greater Indianapolis Foreign Trade Zone, Inc. The ECDC will use these grant funds to promote the Foreign Trade Zone (FTZ) program. They will market the benefits of the FTZ program to existing businesses in Rush County and also to those companies that the ECDC is targeting for attracting to Rush County.
The FTZ program is a federal trade incentive program that helps companies that import by reducing costs and improving logistical efficiencies. The Indianapolis Airport Authority (IAA) became the local administrator of the FTZ program for central Indiana in 1981 with approval from the Foreign Trade Zone Board (U.S. Department of Commerce).
The IAA formed a separate company (Greater Indianapolis Foreign Trade Zone, Inc., also known as INzone) to administrate this program on its behalf within its 41 county service area. INzone is responsible for locally marketing the benefits of the FTZ program, assisting businesses with gaining access to the federal program, and providing support services.
The FTZ program assists companies that import into the United States with improving their competitive position versus utilizing offshore manufacturing and distribution processes. Operating within an FTZ service area can increase business efficiencies – saving time, money, and hassles. The FTZ program provides a diverse group of financial savings and logistical opportunities that help streamline business operations.
The ECDC will include FTZ information / logo on signage at the front entrance of the new Commerce Park at Rushville, and on any billboards advertising the Park. More information about this program can be found at http://inzone.org/, or by calling the ECDC at 765-938-3232.