Goodyear considers Foreign Trade Zone changes

By Mike Sunnucks | Rose Law Group Reporter

The City of Goodyear is looking at some changes to its Foreign Trade Zone policy.

Foreign Trade Zones are created by the local jurisdictions and the U.S. Department of Commerce.

They offer state property tax breaks as well as reduced fees on customs. Goodyear and other Arizona cities have used FTZs to help attract jobs and investments from the technology, manufacturing, semiconductor and logistics sectors.

City officials say FTZs have attracted 13 companies to Goodyear. Those companies employ more than 5,000 workers and have made $1.3 billion in capital investments in the West Valley.

The Goodyear City Council will brief at its April 6 meeting on some potential changes to the West Valley cities FTZ policy.

The city could put some more specific job, investments

Proposals include requiring manufacturing companies in FTZs to employ at least 100 workers and pay 51% of employees 125% of Arizona’s median wage.

Internet fulfillment centers must have a minimum of $25 million. Goodyear could also create new fees for companies locating in trade zones.

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.