Stateline World Trade Association: November program set — Revitalized Milwaukee foreign-trade zone boosts economic development

CONTACT

Aimee Thurner

(608) 313-1367

info@slwta.org

[Beloit, WI] – On Thursday, November 17, 2011, the Stateline World Trade Association (SLWTA) will host a dinner meeting and speakers on Economic Development Opportunities and the Rejuvenation of the Port of Milwaukee Foreign-Trade Zone (FTZ) at the Butterfly Club in Beloit, WI.

Speakers are Eric Reinelt, Port Director, Port of Milwaukee and Mary Regal, Director of International Development, Bentley World Packaging. Marge Burton Bevers, FTZ #176 Administrator at the Greater Rockford Airport Authority, will moderate the panel.

Foreign-Trade Zones (FTZs) were created in the United States to provide special customs procedures for U.S. importers. Duty-free treatment is accorded to items handled in FTZ-approved sites, with duty payment deferred on all items until they leave that location. Some duties are reduced and others, eliminated. Benefits also accrue as inventory control, cash flow and supply chain savings. FTZs help offset customs advantages available to overseas producers who compete with domestic industry. Growth of the program has been rapid in recent years, with over 18% of all U.S. imports moving through FTZ-approved locations in the 2009-10 fiscal year.

On August 3, 2011, the federal Foreign-Trade Zone Board approved the reissuance of a Grant of Authority fro FTZ #41 to the Port of Milwaukee for a service area to include Kenosha, Milwaukee and Racine Counties. The speakers will address how the FTZ can help leverage economic development opportunities in southeastern Wisconsin and the Stateline area. They will also address why the Port of Milwaukee and Bentley are invested in this public-private partnership.

The Thursday, November 17, 2011 event will be held at the Butterfly Club, 5246 E. Country Rd. X in Beloit, Wisconsin. Networking begins at 5:30 p.m. Dinner is at 6:15 p.m. and will be followed by the presentation. Cost is $25 for members, $35 for non-members and $15 for students with an ID. The menu for the evening will include: Fried Shrimp w. Cocktail Sauce and Lemon, Baked Potato, House Salad, Rolls, and Dessert. Dietary restrictions should be noted when registering and substitutions can be ordered. Registration must be received by Tuesday, November 15, 2011. To register, e-mail Aimee Thurner at info@slwta.org, call (608) 313-1367 or register on-line at http://www.slwta.org. No-shows or cancellations on the day of the program will be charged the full fee.

About SLWTA

The Stateline World Trade Association was formed in 1987 to promote an understanding and appreciation of the international marketplace. SLWTA is one of four World Trade Associations in Wisconsin. The SLWTA serves, but is not limited to, the Southern Wisconsin/Northern Illinois area.