METROPLEX INTERNATIONAL TRADE DEVELOPMENT CORPORATION FOREIGN TRADE ZONE 168

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Pauline Lucas
5 years ago
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1 METROPLEX INTERNATIONAL TRADE DEVELOPMENT CORPORATION FOREIGN TRADE ZONE 168 March 25, 2014 Mr. Mark McClendon Vice Chancellor for Finance Tarrant County College District 1500 Houston Street Fort Worth, TX Re: Application for Expansion of Foreign Trade Zone 168, Site 5 (Mercantile Center) Dear Mr. McClendon: As a representative of the Grantee of Dallas/Fort Worth Foreign Trade Zone 168, I am writing to request the concurrence of Tarrant County College District for the expansion of our current foreign trade zone Site 5 at Mercantile Center Business Park. At the request of the landowner, Mercantile Partners, L.P., we are preparing a formal Application for Expansion to be filed with the Foreign Trade Zones Board. Mercantile Center is a premier 1300 acre business park located at the southeast corner of I-35W and North Loop 820. In the early stages of the development 630 acres received foreign trade zone designation. Over the years much of that land has been developed and additional property acquired. Consequently, Mercantile Partners requested that FTZ 168 initiate the process to complete the planned FTZ designation of the balance of the development. Mercantile Partners desires to designate most of the business park as a foreign trade zone to enhance the opportunity to attract and effectively compete for new companies engaged in international trade. As mentioned above, there are1300 total acres within Mercantile Center s boundaries of which 630 are currently designated as foreign trade zone. We are requesting approval to expand that designation by 590 additional acres. We can report that expansion approval will cause the District no loss of revenue from the current tax rolls as none of the incumbent businesses desire foreign trade zone designation. As future development occurs, foreign trade zone users will receive an exemption from personal property taxes on their FTZ eligible inventory but the District will continue to collect ad valorum taxes on all real property as well as non-ftz inventory and other business personal property. Mercantile Center is among Tarrant County s leading business parks with a wide range of office, retail and distribution facilities. There are 37 tenants within the designated expansion area. During our recent discussions to secure the support of the City of Fort Worth, a review of those companies revealed no interest in FTZ status among any tenants. FTZ 168 operates under the FTZ Board s Traditional Site Framework which does not require user demand. The intent of this expansion is to better position Mercantile Center and Tarrant County to attract new business PO Box Dallas, TX Tel: Fax: info@ftzoc.com

2 FTZ 168 Expansion September 10, 2014 Page 2 We respectfully request the concurrence of Tarrant County College District with our expansion plan. As a requirement of the Foreign Trade Zones Board application process we are contacting the affected local tax jurisdictions. To date, we have letters of support from the cities of Fort Worth and Haltom City as well as the Birdville Independent School District. Tarrant County approved our expansion at today s meeting of the Commissioners Court and their letter of concurrence is expected by week s end. Please feel free to contact me should you have any questions or desire additional information about this request, the FTZ Board Application or Mercantile Center. On behalf of Mercantile Partners and the rest of the Grantee board of directors allow me to thank you in advance for your timely consideration of this request. Sincerely yours, Terrence P. Parent Vice Chairman Metroplex International Trade Development Company Foreign Trade Zone 168 Grantee Attachment: Mercantile Center FTZ and Expansion Area

3 EXPANSION OF DALLAS/FORT WORTH FOREIGN TRADE ZONE #168 SITE 5 - MERCANTILE CENTER Tarrant County College District Board Briefing 18 September 2014

4 2 Foreign Trade Zone Basics FTZ is a federal trade program administered by the US Dept. of Commerce, managed by US Customs & Border Protection Foreign trade zones are intended to stimulate US trade related employment and local investment: For example, a Swiss company located in the FTZ 168 site in CentrePort (Fort Worth) employs nearly 200 of the finest watchmakers / craftsmen serving the Americas Foreign Trade Zone designation can affect local agency tax collections. TCCD tax revenues include: Real property taxes unaffected by FTZ status Personal property taxes FTZ inventory is exempt until merchandise enters US commerce, unlike Freeport goods in transit exemption for 180 days.

5 3 Purpose of Briefing Application to Foreign Trade Zones Board for Expansion of FTZ 168, Site 5 Mercantile Center Federal process requires notification of all local tax jurisdictions: City of Fort Worth filed letter of support Haltom City filed letter of support Birdville ISD filed letter of support Eagle Mountain-Saginaw ISD filed letter of support Tarrant County filed letter of support Request TCCD concurrence

6 4 Intro to Dallas/Fort Worth FTZ 168 Established in 1990 with support of Fort Worth & Dallas One of four FTZs in region Grantee is a not for profit corporation Nine Metroplex sites, including Tarrant County: Mercantile Center (I-35W at Meacham Blvd) Fossil Creek Business Park (I-35W at Fossil Creek Blvd) CentrePort (Hwy 360 at Trinity Blvd) Carter Industrial Park (I-35W at E. Altamesa Blvd)

7 5 Expansion of FTZ 168 Site 5 Mercantile Center FTZ site established in acre mixed use business park 630 acres designated as FTZ Expanding FTZ designation to entire business park Focus on future tenant/user development Expansion benefits include: Enhance region s competitive posture Create opportunities for new int l investment Provide important local option for FTZ projects

9 Planned Mercantile Center FTZ 7

10 Planned Mercantile Center FTZ 8

13 11 Impacts of FTZ 168 Site 5 Expansion FTZ inventory is exempt from ad valorum tax Qualified merchandise considered outside of US commerce Expansion will have zero impact to current tax rolls No FTZ users in the expansion area All business inventory and property taxes unaffected Provides economic development organizations with more quality choices to recruit new business to Tarrant County Improves competitive posture of Mercantile Center with other FTZ sites outside of Tarrant County

14 12 Working with TCCD Grantee will promote the programs and resources of TCCD to its new FTZ users in Tarrant County Grantee will distribute to its current FTZ users relevant TCCD information regarding job training, work force education and more Grantee will work with TCCD staff to explore opportunities for student internships, part-time and full-time employment among FTZ users

15 13 Expansion of FTZ 168 Site 5 Thanks for your continued support Questions? Dallas/Fort Worth Foreign Trade Zone Trinity Blvd, Suite 200 Fort Worth, TX x225 info@ftzoc.com

CITY OF HALTOM CITY 5024 Broadway P.O. Box 14246 Haltom City, TX 76117-0246 817.222.7700 Fax: 817.222.7237 www.haltomcitytx.com July 9, 2013 Mr.

17 CITY OF HALTOM CITY 5024 Broadway P.O. Box Haltom City, TX Fax: July 9, 2013 Mr. Andrew McGilvray Executive Secretary Foreign Trade Zones Board US Department of Commerce 1401 Constitution Avenue, NW, Room Washington, DC Re: Application for Expansion of FTZ 168-Site 5, Mercantile Center Dear Mr. McGilvray: I am writing to express the support of the City of Haltom City for the expansion of Foreign Trade Zone 168 s Site 5 to include all property within the boundaries of Mercantile Center as outlined on the attached map. The City is very supportive of new business strategies that will improve our ability to attract new international business investment. Haltom City property lies within the boundaries of Mercantile Center and zone designation will improve our ability to respond to market opportunities that require FTZ status. The City and Mercantile Partners, the landowner, enjoy a good working relationship and we are pleased to be supportive of their development plans. Foreign trade zone designation will also expand our marketing offering and we encourage your approval of this application. Thank you for your kind attention. Respectfully, Thomas J. Muir City Manager

35W 377 Foreign Trade Zone # 168 Mercantile Center Proposed New Boundary 820 820 EXIT 17B EXIT 18 820 ANDERSON 820 EA SY GLE N DE North Richland Hills VIE W OL D DEEN 35W 36TH 377 WEBSTER BROADWAY ²

18 35W 377 Foreign Trade Zone # 168 Mercantile Center Proposed New Boundary EXIT 17B EXIT ANDERSON 820 EA SY GLE N DE North Richland Hills VIE W OL D DEEN 35W 36TH 377 WEBSTER BROADWAY ² RITA LONG 0 NO Miles 18 3 KERRY RTH PREMIER KI MB O FO SSI L EDITH 30TH Fort Worth JERRI HALTOM Saginaw Proposed Boundary REVERE IRA GENE DOWNING Haltom City Current Boundary MEACHAM SABELLE Legend Cities NT ON MARK IV 820 SANDSHELL 377 EXIT 16C This Housing & Economic Development product is for informational purposes and may not have been prepared for or be suitable for legal, engineering, or surveying purposes. The City of Fort Worth assumes no responsibility for the accuracy of said data. June 27, 2013

DEPARTMENT OF COMMERCE Foreign-Trade Zones Board. Proposal for Available Alternative Site-Designation and -Management Framework

DEPARTMENT OF COMMERCE Foreign-Trade Zones Board Proposal for Available Alternative Site-Designation and -Management Framework Summary: The Foreign-Trade Zones (FTZ) Board is inviting public comment on