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Director reports interest in KEDA’s foreign-trade zone and local expansion prospects
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Summary
KEDA’s director said a local company is exploring use of the authority’s foreign-trade zone and a Minnesota-based firm is evaluating locations for expansion; Digi-Key’s regional FTZ activity was cited as context.
In the director’s report, Director Wagner told the board he has been talking with a local company about using KEDA’s foreign-trade zone (FTZ) and said it would require further analysis of tariff rates and volumes before any commitments are made.
"They've got a number of customers that they're working with that might benefit by utilizing the zone here," the director said, and emphasized that the authority is the grantee for the FTZ (the transcript notes KEDA, not the city or county, holds that role).
The director also described Digi-Key’s large inventory and the complexity of compiling annual FTZ reports, and said a Minnesota-based business has expressed interest in locating in the area; staff are preparing options and will update the board as those discussions progress.
Wagner noted regional planning engagement with ARDC’s SEDS process and that the University of Minnesota Extension has been conducting a county needs assessment for about 18 months; he also reported updates to KEDA’s website to present improved public information.
Board members agreed to stay engaged as staff continue to vet FTZ feasibility, tariff considerations and local utility capacity for potential new businesses.
