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Council places Phillips 66 foreign-trade-zone operations agreement on file; annual fee and one-time application to fund local program
Summary
Butte-Silver Bow will accept a foreign trade zone (FTZ) operations agreement with Phillips 66 and place the item on file. The agreement carries a $3,000 one-time application fee and a $2,500 annual fee payable to Butte-Silver Bow; staff said the FTZ is a regional designation and Phillips 66’s planned activity will not move product to Butte.
The Butte-Silver Bow Council on July 16 placed on file a proposed foreign trade zone operations agreement between the county and Phillips 66. Commissioner Thatcher moved to place the communication on file and the council voted 9-0 in favor.
City-county staff said the FTZ is a federal designation that can be used by companies to reduce tariff burdens and facilitate certain import/export and storage activities. Director Karen Burns told…
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