The Panama City – Bay County International Airport Authority has directed Airport Executive Director Randy Curtis to evaluate the options for establishing a Foreign trade zone at the new international airport currently under construction in West Bay.
“The airport board believes it is important to establish a Foreign Trade Zone at the new airport in order to maximize its economic development potential,” said Airport Authority chairman Joe Tannehill. “Having a foreign trade status at the new airport will put us in another category altogether and be an important differentiator in competing for new jobs and business expansions.”
The action taken by the Airport Authority is in consideration of extensive statistics documenting the importance of foreign trade to the Florida economy. It noted that establishing a Foreign Trade Zone at the new Panama City - Bay County airport would make the new facility one of 10 airports in Florida.
Airport board members agreed that Foreign Trade Zone in West Bay would benefit the community and the region by facilitating and expediting international trade, providing special customs procedures as a public service to help firms conduct business, encouraging and facilitating exports, attracting offshore activity, assisting state/local economic development efforts and creating employment opportunities.
The action taken directs Airport Executive Director Randy Curtis to begin immediately preliminary work to create a Foreign Trade Zone at the new international airport in WestBay.
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