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Importance of Foreign Trade Zone designation

By October 26, 2015 No Comments

This Grand Forks Herald article addresses efforts underway to expand the Foreign Trade Zone currently near Grand Sky. A couple of excerpts:

“Grand Forks business leaders are working to expand a trade zone to cover Grand Forks County, a change they say could boost an already burgeoning unmanned aerial systems industry.

Tom Swoyer Jr., president of Grand Sky Development Co., said discussions about the trade zone’s effect on the technology park have been preliminary. But on the surface, he said, it appears to have some benefits.

‘That would help them keep their price lower while still keeping jobs in North Dakota,’ he said.

There has already been foreign interest in Grand Sky because of North Dakota’s leading role in the UAS industry, Swoyer said. North Dakota was selected as one of six test sites for researching the integration of the unmanned craft into the national airspace, and Grand Sky is billed as the only UAS park of its kind.

‘At this point, the Foreign Trade Zone is not a part of the conversation yet,’ he said. ‘Those are companies interested in the UAS industry in general.’

But, Swoyer added, ‘the Foreign Trade Zone might be some additional benefit to entice companies to actually move here.’