Oct. 11--The Savannah Airport Commission on Wednesday approved a resolution to transfer control of the Foreign Trade Zone, which it has governed for more than 30 years, to the new World Trade Center Savannah, a division of Savannah Economic Development Authority.
It's a logical move, airport executive director Patrick Graham told his board, one made easier by the seamless transition of trade zone director Ralph Magionni from the airport commission's employ to the World Trade Center.
The Commission has been working with SEDA on the transfer for over a year. The now thriving FTZ 104 is used as an economic development tool which now better suits the mission of SEDA and the newly formed WTC.
"Now that the World Trade Center Savannah concept is established, it is a logical time to execute the transfer," Graham said. "It would be better utilized by the World Trade Center Savannah where it would be of greater value to the community."
FTZ 104 was created in 1984 to provide special customs procedures to U.S. companies in the region engaged in international trade-related activities. Duty-free treatment is accorded to items that are processed in the FTZ and then reexported. Duty payment is deferred on items until they are brought out of the FTZ for sale in the U.S. market. This helps to offset customs advantages available to overseas producers who compete with domestic industry.
WTC board chairman Eric Johnson and SEDA vice president Brynn Grant were on hand to answer questions.
"This makes a lot of sense," Johnson told the board. "We appreciate your trust in us."
SEDA and the World Trade Center have already begun discussing uses of the trade zone with potential clients.
Active foreign trade zone sites in Savannah include the Air Cargo building at the airport, Nustar Energy, Tumi Luggage, Mitsubishi Power Systems, Savannah Warehouse Services, Ocean Terminal and Garden City Terminal at Georgia Ports Authority.
Designated zone areas include Fuji Vegetable Oil Co., Crossroads Business Center, Mulberry Grove Plantation, Tradeport East and West in Liberty County, Interstate Center in Bryan County and Flint River Services Cold Storage.
Maggioni said he was looking forward to working with World Trade Center.
"They have tremendous resources I'll be able to draw upon and, hopefully, I'll be able to offer them the benefits of my years of doing this," he said.
IN OTHER AIRPORT BUSINESS, THE BOARD:
--Heard a preliminary proposal for updating the ticket lobby, part of an ongoing upgrade of airport facilities.
--Approved funding for a new traffic signal on Airways Avenue at Gulfstream Road.
--Approved a design fee of $181,800 to John Ruth & Associates for upgrades to the rental car service center.
--Recognized its airfield operations department for "16 years of excellence" in airfield certification inspections.
--Approved the Savannah office of Sterne Agee as the airport's new financial advisor.
Copyright 2012 - Savannah Morning News, Ga.
