Tag Archives: FTZ

FTZ Fueled McAllen’s Development

Trucks move from weight scale at the McAllen FTZ.

Foreign trade zones were sparse in 1965 and those in existence back then had ocean and river connections. There was not a single land port-based foreign trade zone in the mid-1960s. It was 1965 when a group of McAllen business leaders got the idea of establishing a FTZ. These zones allow companies to bring goods onto U.S. soil without paying duty taxes and use parts to manufacture a product that…

Read More

2020 Brings Changes To Business Recruiting

EDC officials are hoping to utilize the USMCA to spur new growth in border trade such as operations at the McAllen Foreign Trade Zone. (Courtesy)

The handshake, lunch meetings and traveling where necessary to meet promising prospects are all part of what makes economic development successful. In 2020, some of those elements have been put to the side. It has been a challenge to deal with for economic development professionals. The same is so for the business world they connect with daily. The trips to a company’s headquarters have been replaced with Zoom calls. Longer…

Read More

Port of Brownsville Steams Ahead 

The Port of Brownsville has been especially busy in recent years in reporting record annual revenues. (courtesy)

The Port of Brownsville is utilizing record revenue years leading up to COVID-19 to deal with the pandemic’s challenges. The port reported a record $25.4 million in annual revenue in fiscal year 2019. The figure tops the previous record from 2018 with continuous robust growth over the last six years. The port’s performance was recently recognized by Moody’s Investor Service, ranking the Port of Brownsville third among all U.S. ports…

Read More

Brownsville FTZ Ranks Third in Nation

FTZ No. 62 at the Port of Brownsville reported more than $3.8 billion in exported goods in 2018.

Foreign Trade Zone No. 62 at the Port of Brownsville remains near the top in the nation for the value of exports. FTZ No. 62 ranks third in the country with more than $3.8 billion in exported commodities in 2018. This is an increase from the $3.5 billion reported in 2017. The figures come from the U.S. Foreign-Trade Zones Board’s annual report to Congress released in late November. Since 2012,…

Read More

Port Sets Records, Eyes Future

Brownsville Navigation District Board Chairman John Reed

The Port of Brownsville once again posted a record year for 2018, moving 11.3 million tons of cargo with operating revenues of more than $24.2 million. That translates into a 6.6-percent increase in cargo along with a 25-percent bump in rail movements. Revenues were also up 2.5 percent over the previous year, according to figures released during the State of the Port event in March. “The Port of Brownsville made…

Read More