(Miami, FL-December 7, 2016) – Ron Butler, executive director of 79th Street Corridor Initiative (the “Initiative”) announced today that the “Initiative” had received approval by the Foreign Trade Zone Board and Port Miami’s FTZ 281 to operate as an FTZ. The application includes the activities of Leasa Industries, a very well-known Food Manufacturer in the 79th Street area. “We see Foreign Trade Zones as a way for our community to engage in global trade and participate in one of Miami-Dade County’s key industries” said Butler. “The 79th Street Corridor Initiative will build a Foreign Trade Zone operating entity to help small and medium sized businesses in our district enjoy the benefits of an FTZ without having the high cost of operating independently” he added. The proximity of the 79th Street Corridor to PortMiami, downtown Miami, I-95 and Miami International Airport creates a unique opportunity that will play an important role in stimulating increased economic activity, creating jobs and facilitating international trade in the region.
“Foreign Trade Zones spark economic development and job creation in international trade and commerce for Miami-Dade County,” said Miami-Dade Mayor Carlos Gimenez. “It is an excellent competitive resource that benefits importers and exporters, warehouse operators, manufacturers, and third party logistics providers. We are proud to welcome the 79th Street Corridor Initiative to FTZ 281 PortMiami, and wish them much success.”
“This approval is the first of its kind as the 79th Street Corridor Initiative is a not for profit corporation that will be operating the FTZ” stated Gary Goldfarb, Chief Strategy Officer of Interport Consulting, and the FTZ Consultant for this project. “Port Miami’s FTZ 281 had recently created a different tariff for not for profit corporations working within community redevelopment agency (CRA) districts to help build businesses in global trade”, stated Juan Kuryla, Port Miami Port Director and Grantee for FTZ 281. Director Kuryla added that it made sense to have Foreign Trade Zone operations in the 79th Street area, as it is close to PortMiami, the Airport and the Miami River, our largest economic engines.
The focus on trade and logistics is part of a comprehensive plan to transform the 79th Street Corridor area into an economically viable and sustainable community. After years of significant economic and social challenges, the plan to provide a solid infrastructure and create a vibrant corridor for local residents and businesses is starting to take shape.
“The FTZ will create quality jobs for North Central Miami Dade County residents; link small and medium sized businesses to the international trade industry, and help transform the 79th Street area into a prosperous and sustainable community”, says Butler.
The 79th Street Corridor Initiative works with the 79th Street Coalition for Change which is a team of experts and community stakeholders who are working together with one shared goal of improving the 79th Street Corridor’s economy.
About The 79th Street Coalition for Change
The 79th Street Coalition for Change is a partnership of residents, non-profit organizations, economic development agencies, local government businesses, and churches focused on improving the quality of life while galvanizing transit oriented economic development in the NW 79th Street area of Miami-Dade County, Florida.
About The 79th Street Initiative
The Mission of the 79th Street Corridor Initiative is to use a Transit Oriented Development (TOD) approach, along with existing community assets, to transform 79th street corridor neighborhoods into a community of choice for people to live, work and visit.
About Foreign-Trade Zones
The Foreign-Trade Zones Program is a federal program established to encourage and expedite U.S. participation in international trade. Foreign goods may be admitted to a FTZ without being subject to Customs duties or certain excise taxes. Zones also defer payment of duties until goods actually enter into the United States commerce system.
About PORTMIAMI Foreign Trade Zone (FTZ 281)
PortMiami Foreign Trade Zone (FTZ 281) is a general-purpose foreign trade zone established under the Alternative Site Framework (ASF). The ASF provides an expedited process to becoming an FTZ site. FTZ 281’s mission is simple: To make Miami-Dade County’s international trading community more profitable and competitive by providing quick and easy access to foreign trade zone benefits. FTZ 281 stretches from SW 8th Street to the Broward County Line, from Miami Beach in the east to the Urban Development line in the west. FTZ 281 encompasses many industrial areas and critical logistics components including Miami International Airport, Opa Locka Airport, PortMiami, Rail yards and other transportation infrastructure.
About LEASA Industries, Inc.
Founded in the heart of Liberty City, Miami in 1977, Leasa Industries Co., Inc., is one of the largest growers, manufacturers, processors and packers of healthy food products across the Southeastern United States. Leasa’s brand products are distributed to various retail locations throughout Florida, Georgia, Alabama, South Carolina, Tennessee, the Caribbean and Alaska. The company has won a number of awards, including Florida Regional Minority Business Council’s Supplier of the Year (2007); Winner of the Inc Magazine and Harvard Business School Initiative for a Competitive Inner City (1999-2000); Florida Manufacturing Technology Center / Florida Business Journal Manufacturer of the Year (1999); and the US Department of Commerce & Minority Development Agency’s National Minority Manufacturer of the Year (1997).
About Interport Group of Companies
Interport Group of Companies is one of the region’s largest Third Party Logistics providers, offering Freight Forwarding, Customs Brokerage, Foreign Trade Zone and Domestic Public Warehousing, Perishable Center warehousing as well as a very active Foreign Trade Zone Operations Consulting, and a Technology Division creating hardware and software tools for Trade & Logistics. Interport currently operates over 350,000 sq. ft. of FTZ space in Miami-Dade County
