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Socorro council approves foreign trade zone schedule update adding manufacturing incentive
Summary
Council approved an update to Foreign Trade Zone #302’s zone schedule to add a manufacturing incentive intended to attract new industry; city staff said the change must be submitted to U.S. authorities for final approval.
The Socorro City Council approved updates to the zone schedule for Foreign Trade Zone (FTZ) No. 302 that add a manufacturing incentive intended to help attract new industry to the city’s industrial corridors.
Jose Quinones of the city’s Economic Recovery Office told the council that FTZ 302 is “the newest foreign trade zone in the nation” and that the update adds a…
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