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International Trade Briefing Set for October 24

Albemarle County Economic Development and the City of Charlottesville Office of Economic Development will host an International Trade Briefing in which information will be shared about existing state resources for supporting international trade and our new partnership with Culpeper County to create a Foreign Trade Zone. The briefing will take place on Wednesday, October 24, 2012 from 10:00 a.m. to 12:00 p.m. in Room 241, County Office Building, 401 McIntire Road.

Speakers include:

  • Roger Porter of the Virginia Economic Development Partnership who will give an overview of all the State’s resources to assist companies engaged in foreign trade
  • Carl Sachs, Culpeper County Economic Development Director, who will share examples of enterprise cost savings attributable to the Foreign Trade Zone status
  • Cornelia Steiner, a consultant with Point Trade Services, who will share her experiences in helping companies take advantage of Foreign Trade Zones

“We are very pleased to offer our businesses who work internationally the opportunity to benefit from inclusion in a foreign trade zone,” said Lee, Catlin, Assistant to the County Executive for Community and Business Partnerships.  “We expect that our new Foreign Trade Zone status will remove barriers and increase profitability for our importing and exporting companies.”

A foreign-trade zone is a designated location in the United States where companies can use special procedures that help encourage U.S. activity by allowing delayed or reduced duty payments on foreign merchandise, as well as other savings. Albemarle County elected to join a Foreign Trade Zone to help local companies lower their import and export tariff costs as well reduce product shipment risks.

This briefing is free and open to the public.

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