RTRP’S Carson Joins FTZ Rates, Tariff and Legal Review Board
Appointment is the Latest to Highlight Global Nature of Regional Economic Strategy
Research Triangle Region, N.C. (April 8, 2015) -- Bo Carson, vice president for information services at Research Triangle Regional Partnership (RTRP), has joined the Rates, Tariff and Legal Review Board of Foreign Trade Zone (FTZ) #93. The panel oversees the full-service, multi-site zone, which serves businesses in Chatham, Durham, Franklin, Granville, Harnett, Johnston, Lee, Moore, Orange, Person, Sampson, Vance, Wake and Warren counties.
Carson joins a distinguished group of regional leaders that includes elected officials, business leaders and economic development professionals. “Bo is already doing a great job as a board member, and we’re so very fortunate to have him on our team,” says Tom White, chairman of the FTZ board and director of the Economic Development Partnership at North Carolina State University. Carson’s analytical skills, honed through his 16 years handling research for RTRP, are an asset to the board, White adds. “He’s also very savvy on international development, export/import activity and the kinds of things we try to promote in the region.”
FTZs are federally designated areas that enable businesses to take advantage of lower tax rates for imported and exported goods. Companies using an FTZ pay no taxes on imported goods until the products enter U.S. commerce. Tariff-free raw materials can be imported and used for manufacturing finished goods destined for export to foreign buyers. The Rates, Tariff and Legal Review Board oversees the operation of FTZ #93 and advises Triangle J Council of Governments, the grantee of FTZ #93, on the state of its operations. The board reviews and approves tariff and rate schedules submitted by the zone’s operator, as well as adoption of rules, regulations and practices for operation of the regional zone.
Carson’s three-year term on the nine-member FTZ governing board starts only days after the announcement that his colleague, Lee Anne Nance, was named as a leader of the FDI Frontlines Coalition, a national organization that provides market intelligence and technical support to economic regions working to attract foreign direct investment (FDI). About 175 economic development organizations participate in the Coalition, which was formally launched at the SelectUSA Investment Summit in Washington, D.C., in March. Nance, who is RTRP’s executive vice president, calls FDI is “a critical component” of innovation-based regional economic development. “FDI encourages the integration of new technologies, enhances workforce and talent quality, and generates economic growth,” she says.
Currently, six companies are actively utilizing FTZ 93, which is facilitating the shipment of about $2 billion in goods. As for FDI, North Carolina now ranks 9th among the 50 states in the total number of jobs supported by foreign companies. Firms in the region headquartered abroad include marquee names like Credit Suisse, Novo Nordisk and Syngenta. “Leadership positions like the ones Bo and Lee Anne have been appointed to are evidence both of our region’s globalization and our organization’s strong national reputation for innovation and engagement,” says Charles Hayes, RTRP’s president and CEO.
About The Research Triangle Regional Partnership
The Research Triangle Regional Partnership (RTRP) provides marketing and strategic economic development coordination for North Carolina's Research Triangle Region, an area that includes Chatham, Durham, Edgecombe, Franklin, Granville, Harnett, Johnston, Lee, Moore, Nash, Person, Vance, Warren, Wake and Wilson counties, as well as Research Triangle Park. The private, non-profit organization also administers the Research Triangle Cleantech Cluster and Triangle Air Awareness. RTRP comprises economic development organizations that represent a wide range of partners to ensure the region remains economically competitive at a global level. Among its many distinctions, RTRP received the U.S. Department of Commerce's National Award for Excellence in Economic Department Regional Competitiveness Strategic Planning. For more information, visit www.researchtriangle.org or follow @TriangleRegion.
Charles Hayes, President and CEO
Research Triangle Regional Partnership (RTRP)