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Economic developer reports Boonville exploring foreign-trade zone options, bonded-warehouse possibility
Summary
Boonville's economic developer reported council on June 2 that the city and Cooper County are exploring foreign-trade zone eligibility and the potential for a bonded warehouse to help local businesses manage tariffs and cash flow.
Boonville's economic developer told the council on June 2 that the city and Cooper County are working through the applicability of their inclusion in Foreign-Trade Zone arrangements and said a bonded-warehouse facility could help local companies manage tariff exposure and cash flow.
The developer said Cooper County is in a foreign-trade zone administered out of Kansas City and that Howard and Cooper counties are among the western-most counties eligible under the zone. A bonded warehouse, the developer said, would allow importers to hold goods and take items out incrementally rather than paying tariffs on an entire shipment at once.
The developer also said staff are working on aggregating entrepreneurial resources and plan to publish a calendar of offerings by the time local schools start; the developer is incorporating Howard County information into the BCDC website and will meet stakeholders in Howard County.
The developer said they reached out to potential large retail/gas-station operators (referred to as "Wally's" in the discussion) as a cold contact about relocation or expansion; the developer said Wally's has recently relocated its corporate headquarters to a St. Louis suburb and that outreach efforts may continue.
Council did not take formal action on the report; the presentation was informational and staff said they would return with developments as appropriate.
