New Free-Trade Zone Proposed for Las Vegas
The Las Vegas area is already home to a number of free-trade zones, but the Nevada state government wants to add one more.
The Nevada Development Authority is trying to get 365 acres within the City View Business Park in the city of North Las Vegas designated a free-trade zone.
A formal request to the Foreign Trade Zones Board in Washington, D.C., was filed Nov. 9. Comments for or against the proposal can be made to the board until Jan. 19 by going to www.trade.gov/ftz.
Created by Congress in 1934, Foreign Trade Zones offer a mechanism for deferring or eliminating duties on merchandise brought into the United States. Duties are paid if and when the materials enter the domestic market, and no duties are paid if the merchandise is re-exported.
The Las Vegas area already has more than 1,000 acres of free-trade zones dotting the community. Those include the 23 acres that encompass the Las Vegas Convention Center, 317 acres inside the Hughes Airport Center Industrial Park next to McCarran International Airport and the World Jewelry Center in downtown Las Vegas.
The free-trade zones help international exhibitors avoid tariffs when bringing goods into the various apparel and jewelry trade shows in Las Vegas.—Deborah Belgum
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