NEWS RELEASE
Tucson Regional Economic Opportunities, Inc., City of Eloy Partner to Bring
Economic Development, Jobs to Sun Corridor and State of Arizona
ELOY, ARIZONA (April 16, 2015) – Tucson Regional Economic Opportunities, Inc. (TREO), in partnership with the City of Eloy, announces today that the United States Department of Commerce has approved its application to establish new Foreign Trade Zone (“FTZ”) magnet sites in Pinal County. The U.S. Dept. of Commerce approved two new sites, one in the city of Eloy and one in the county. Located within the strategic north-south distribution corridor known as the CANAMEX Corridor, the new FTZ magnet sites will play an important role in helping the State of Arizona improve cross border trade with both Canada and Mexico and attract manufacturing jobs to the state.
Under federal law, any business located within an activated FTZ will receive relief from trade barriers, including certain taxes and interventions from customs authorities. The magnet sites, which span more than 640 acres, include two industrial properties within Pinal County’s economic development and employment zone, Red Rock Industrial Park and Sunshine Industrial Park. The sites are enhanced by their proximity to rail, ground and air transportation as well as having the size and entitlement infrastructure to accommodate large scale industrial users. Both sites are owned and/or managed by the Walton Group of Companies of Scottsdale, Arizona.
“Combined with our strategic location along the east-west trade route between Texas and California and the north-south CANAMEX Corridor, these two FTZ industrial sites represent a significant addition to our competitive assets,” said Joe Snell, president & CEO, TREO. “The new magnet sites will expand TREO’s involvement in the Sun Corridor and help bring even more jobs, businesses and economic development to the region. We want to thank the City of Eloy and Walton for partnering with us to achieve this great win for the Sun Corridor and the State of Arizona.”
“With our prime location along Interstate 10, the City of Eloy is poised for tremendous economic development and growth and these new FTZ sites will help us attract even more businesses and quality jobs to our city,” said Mayor Joel Belloc. “We appreciate the State, TREO and Walton’s work to get these sites designated and look forward to continuing to work together to achieve even more great wins for our city, region and state.”
Sunshine Industrial is a partially developed, 277 acre site with water and sewer access, located in the city of Eloy. The property includes multiple access points to key infrastructure that make it well positioned for freight distribution to major markets by both truck and rail. Red Rock Industrial is a 367 acre property located adjacent to the Red Rock Interchange with approximately two miles of frontage along Interstate 10. It also fronts the Union Pacific Railroad’s Sunset Route and is adjacent to a proposed rail classification yard.
“Walton is proud to partner with TREO and the City of Eloy to bring economic development opportunities to the Sun Corridor and the State of Arizona,” said Rob Leinbach, Chief Operating Officer for Walton’s U.S. operations. “We thank TREO, the City of Eloy and the Foreign Trade Zone administrative team for their leadership. We are also grateful to Arizona’s entire congressional delegation, especially Congresswoman Ann Kirkpatrick, for helping make this FTZ a reality.”
About TREO:
TREO offers a comprehensive approach of programs and services to facilitate the creation of high-wage jobs, through the attraction of new primary companies, the retention/expansion of existing primary companies and increased business creation/entrepreneurship strength within the region. For more information visit www.treoaz.org.
