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As an economic development program, a Foreign Trade Zone uniquely helps regional businesses compete in a global marketplace by expediting trade and encouraging activity in the U.S. that might otherwise be done abroad. The Foreign Trade Zones of Greater Cincinnati and Northern Kentucky are a resource available to all regional qualifying companies that can gain real benefits from the cost savings and efficiencies provided by an FTZ. If you are a Local Economic Development Organization, this newsletter is a resource to help you present FTZ information to prospective companies as part of a relocation package. Please let us know how we can make it even more valuable to you, and keep you in the know.
What is an FTZ? FTZ Fact Sheet FTZ FAQ
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GRANTEE NEWS
ANNUAL MEETING YIELDS NEW MEMBERS & EXTENDS CONTRACT
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On September 27, the Greater Cincinnati Foreign Trade Zone, Inc. held its annual meeting and the board approved several items:
- Board Updates: Three board members finished their terms and were honored for their service: Joseph Dehner, member, Frost Brown Todd LLC; Johnna Reeder, former CEO of REDI Cincinnati; and Charles Miller, Vice President & Senior Relationship Manager, HSBC Bank USA, N.A.
- New Board Members: Three new board members were added and T. James Min was re-elected to serve a second term – they are featured below.
- Management Agreement Extended: In 2014, The Port and Greater Cincinnati Foreign Trade Zone, Inc. entered into an agreement whereby The Port serves as management company for the FTZ program. In September 2018, the Board voted to extend the management agreement through 2021. Board President Dan Tobergte expands on this relationship in an Impact Column, featured below.
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Board Chair Dan Tobergte (center) thanks outgoing board members Joseph Dehner (left) and Charles Miller (right).
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WELCOME TO OUR NEW BOARD MEMBERS
At our September board meeting, we welcomed three new board members and welcomed back one returning board member.
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KAI BITTER
Attorney at Law & Rechtsanwalt, Frost Brown Todd
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KIMM COYNER LAUTERBACH
President & CEO, REDI Cincinnati
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T. JAMES MIN II
Partner, LimNexus
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SAMANTHA WAGNER
Head of Trade Compliance, Festo
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TRADE FORUM
GCFTZ CO-SPONSORS JAPAN AMERICA SOCIETY PANEL ON TARIFFS
October 23, 2018 - 11:00AM
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On October 23, leading international business law experts from Frost Brown Todd LLC weighed in on trade and how businesses can prepare for a changing global landscape in an event, “Japan-U.S. Trade & Business in the Trump Era.” We sponsored this important forum, with Frost Brown Todd and Japan America Society of Greater Cincinnati, and thank them for their commitment to sharing information critical to regional growth and competitiveness, as well as helping businesses prepare for the future with expert advice. About 75 people attended the afternoon seminar to hear about likely disruptions to business and the supply chain expected from United States-Mexico-Canada Agreement, known as the “new NAFTA,” slated to take effect in 2020. The panel also discussed likely ramifications from new tariffs outlined in Section 232 of the federal Trade Expansion Act that affect steel and aluminum and Section 301 (Chinese imports). “It is important that we talk about this together, and figure out how we can all do business well and succeed,” Joseph Dehner told the audience. Mr. Dehner has chaired Frost Brown Todd’s International Services Group for more than 20 years. We will publish the presentations as they become available, and will continue to sponsor forward-thinking events focusing on international trade and foreign direct investment. Check back on www.gcftz.com for the presentations.
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FROM THE BOARD CHAIR
MESSAGE FROM FTZ 46+47 BOARD CHAIR, DAN TOBERGTE
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"The FTZ program is a key asset for the region and our strong manufacturing and supply chain ecosystem. We are committed to sharing the program’s features and attracting more companies to participate in our FTZs."
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FTZ RESOURCES
SHARE THE BENEFITS OF FTZs
Collateral Available to LEDOs, Partners and other FTZ Advocates to Promote the Foreign Trade Zones
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COMING UP
NAIOP NIGHT OF THE STARS
November 1, 2018 | Cincinnati Music Hall
GCFTZ will once again serve as Chapter Sponsor for NAIOPs Annual Night of the Stars, recognizing successful developments, deals and dealmakers within the Greater Cincinnati commercial real estate industry. It is one of the most-anticipated industry events of the year and tickets sell out quickly.
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