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 apply to have their Customs duties eliminated or reduced on 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.”

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 28th.  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.

[Click here for EDC news release]

[Click here for article from Urbana/Champaign News-Gazette]

[Click here for article from Peoria Journal Star]

[Click here for article from Galesburg Register-Mail]