After the typical yearlong application process the Economic Development Council for Central Illinois welcomes sties in Galesburg and Rantoul into Foreign Trade Zone #114. This means existing and new businesses in this Foreign Trade Zone area can then easily, individually apply to have their custom duties eliminated or reduced related to imported merchandise.

EDC Chief Operating Officer Vickie Clark says, “This lowers costs for businesses, increases their competiveness in global market and strengthens employment and capital investment opportunities for the whole region. It is a great business incentive tool for both communities. The Foreign Trade Zone designation will help them grow and attract businesses involved in international trade and it creates a huge financial incentive that sets them apart from many other towns.”

The Galesburg site designated is the Logistics Park at US Rt. 150 & County Road 10 in Galesburg (adjacent to I-74 and US Rte 150). Greg Mangieri, President, Galesburg Regional Economic Development Association (GREDA) says “The FTZ status will enhance opportunities for warehousing and distribution. We are thrilled that with the FTZ status our region will get serious consideration relative to economic development and growth." Officials in Galesburg say this could be the long over-due economic bounce the community needs.

In Rantoul, the designated location is at the former Chanute Air Force Base. Bruce Sandahl, Administrator for the Village of Rantoul says he is excited to work with Foreign Trade Zone #114 in Peoria. “We fully recognize the many advantages that this authorization offers to several of our existing industries as well a aiding our efforts to attract new manufacturing and/or warehousing operations to Rantoul.” Rantoul has plans to develop an aggressive marketing strategy to promote the advantages for certain business to locate within this jurisdiction.

There is a direct benefit to Peoria as well because businesses located in either community will utilize the ‘Customs Port of Entry’ located at the General Wayne A. Downing Peoria International Airport which means an increase in usage of regional transportation services, according to Clark.

There will be press events to celebrate the news in both communities on Wednesday, October 28^th. In Rantoul at 735 Pacesetter Drive at the Easton Bell Sports Hangar #1 at 1:30 p.m. for directions contact Bob Bruce 217-841-3788. In Galesburg at The Amtrak Station located at 225 South Seminary Street at 10am. For directions or more information please contact Michelle Smith 309-343-1194.

The Foreign Trade Zone #114 is open to sites and businesses within a 60 mile radius or 90 minute commute of Peoria Customs Port of Entry. Please contact Sally Hanley for further details.