The Neosho Industrial Park is now an official magnet site of the Southwest Missouri Foreign Trade Zone (FTZ). The designation allows any approved company residing in the industrial park to become part of the FTZ. Together with new national rankings placing Joplin among the top 15 cities to watch for global trade, international business is on the rise for the region.
The Neosho Area Business and Industrial Foundation (also known as Grow Neosho) spearheaded the new Neosho Magnet Site. FTZs can help businesses avoid some of the frustrations of international trade by reducing U.S. customs delays and high customs’ duties (taxes).
“Once they’re part of the FTZ, it’s easier for them to compete with foreign companies – it also helps to level the playing field,” noted Brian Weiler, director of the Southwest Missouri FTZ.
In its rankings of emerging growth in international trade, Global Trade magazine noted Joplin’s economic shift from mining on to manufacturing and logistics. The article cited Joplin’s ideal location and quick access to larger markets such as KC, St. Louis, Tulsa, and Little Rock.
The rankings from the September 27th article also included Albuquerque (NM), Bowie (MD), Chandler (AZ), Cheyenne (WY), Decatur (IL), El Segundo (CA), Henderson (NV), Huntsville (AL), Lawrence (KS), Logan (UT), Odessa (TX), Tampa (FL), and Wichita (KS). Global Trade is a media brand focused on domestic and global expansion processes, logistics efficiencies, strategic location, information technology and intelligent banking solutions for U.S. manufacturers that export and their logistics partners.