The Casper airport is home of Foreign Trade Zone 157, the only such designated area in Wyoming. But it looks as though the option to use the FTZ could extend beyond Casper.
The FTZ was established in the late 1980s when some local businesses thought they could import and process goods from foreign countries and not have to pay duties on the raw materials. The FTZ has never been used.
New rules and policies governing Foreign Trade Zones will be presented to the public Wednesday at Casper/Natrona County International Airport, according to airport manager Glenn Januska.
Changes made by the Foreign Trade Zone Board in the Federal Department of Commerce now allow reorganization of zones under an alternative site framework. This means that a business in Rock Springs, for instance, could become part of the Casper FTZ without having to establish a presence in Casper.
"In order to help educate companies on what the FTZ and the alternative site rules can do for their businesses, we have partnered with the Casper Area Economic Development Alliance to hold a workshop that is free to all who attend," Januska said.
According to the U.S. Foreign Trade Zone Board, the zoning allows companies to use special procedures that permit delayed or reduced duty payments on foreign merchandise, alongside "other savings."
"Many might have heard about Foreign Trade Zones but probably do not have a good understanding of how they operate or can benefit businesses," Januska said.
The sessions will begin Wednesday, April 23, beginning at 1:00 p.m. on the second floor of the terminal building.
The airport has hired Foreign Trade Zone Services LLC to conduct the workshop. The private company helps local entities like the airport establish, market and manage FTZs. The two-hour workshop will help company managers understand how an FTZ can help their business.
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