The City of El Mirage has expressed its support for a request by Dermody Properties to designate approximately 700-acres of LogistiCenter at Copperwing as a Foreign Trade Zone.
Requests are ultimately reviewed and approved or rejected by the federal government, but El Mirage will draft a letter supporting the request. El Mirage wants to help the industrial park remain competitive in the face of rampant industrial development in the area. The City reports there are currently seven speculative buildings planned for the park.
A Foreign Trade Zone designation is an attractive differentiator, as it allows materials to be stored, processed and used without customs duties or other costs.
Dermody bought 1,000 acres of the 1,400-acre park last year with plans to build up to 10MSF of speculative or build-to-suit projects. (Source)