Lubbock Foreign Trade Zone Approved - KCBD NewsChannel 11 Lubbock

1/21/04

Lubbock Foreign Trade Zone Approved

Congressman Randy Neugebauer announced Thursday that Department of Commerce Secretary Don Evans signed a Foreign Trade Zone Grant of Authority for a new zone project for Lubbock International Airport and at the Reese Technology Center.

"I was thrilled to hear of the approval of the Lubbock International Airport's Foreign-Trade Zone Project. I believe the establishment of this FTZ will have a positive impact on the people living in the Lubbock region, as well as the entire state of Texas ," said Neugebauer.

"It will bring numerous jobs to the area, encourage the development of other businesses, and further expand the area's logistics status."

This project coincides with Lubbock's initiatives to expand economic growth. Neugebauer believes all economic development efforts are as a result of the teamwork that develops between businesses and communities.

Neugebauer also said, "by creating a more business friendly environment, the retention, expansion, and relocation of businesses will naturally occur."

Businesses will utilize benefits offered through zone status to decrease its operating costs and become more competitive. This will ultimately ensure that the respective business will be able to compete in the future and maintain employment, which will provide economic stability for numerous West Texas families.

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