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The U.S. Department of Commerce announced recently that the 2,000-acre Peachtree

Industrial Park has been approved as a foreign trade zone.

The designation makes the industrial park one

of the largest in the Southeast and was approved as

an expansion of Atlanta's current trade lone located

at the Atlanta Tradeport.

A foreign trade zone is a federally approved location within the United States that is

considered outside of U.S. customs territory. Companies

can use a trade zone to defer customs duties until

goods are delivered, eliminate duties on goods that are

re-exported, eliminate duties on substandard or

damaged goods destroyed within a trade zone,

eliminate duties on labor and overhead and reduce or

eliminate taxes.

Julie Brown, executive director of the Georgia Foreign Trade Zone said the approval is a big

win for Peachtree City and Georgia.

"Peachtree City's Foreign Trade Zone will

prove to be a great cost-saving tool for many

companies. It will also increase jobs and help companies

involved in international trade maintain a

competitive edge."

Tate Godfrey, director of industrial sales at

pathway Communities, also see advantages in the approval.

"Peachtree City is known as an oasis,

providing companies the infrastructure and support they

need and offering employees a way of life that is

unmatched anywhere in the U.S. With the addition

of the Foreign Trade Zone and its elimination of

many tariffs and duties, Peachtree City will be even

more appealing as companies look to relocate or

expand," he said.

The city has quickly become a Mecca for international companies with over 60 companies

representing eight different companies.

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