Neosho company to enter SGF's foreign trade zone

On June 21, Springfield-Branson National Airport is planning to pen an agreement with the first company to take advantage of the foreign trade zone that was expanded to 23 southwest Missouri counties in September.

Boca Raton, Fla.-based international consumer products company Jarden Corp., which has a Jarden Consumer Solutions location in Neosho, would be able to use the expanded FTZ, which allows tariff-free processing of goods.

“Missouri companies are in direct competition with overseas companies," SGF Director of Aviation Brian Weiler said in a news release. “Competition with those companies often makes it difficult to make a profit.

"We view the FTZ as another tool in the economic development toolbox — its tax advantages could make the difference between company growth, stagnation or going out of business," he added. "Ultimately, the FTZ could help southwest Missouri companies grow and add jobs.”

With support from the Foreign Trade Zone Board of the U.S. Department of Commerce, areas the release dubbed "sub zones" can be established in Barry, Barton, Cedar, Christian, Dade, Dallas, Douglas, Greene, Howell, Hickory, Jasper, Laclede, Lawrence, McDonald, Newton, Ozark, Polk, Stone, Taney, Texas, Vernon, Webster and Wright counties.

According to the release, 80 percent of Jarden's Neosho facility will have sub-zone status.

SGF is working with the Missouri Department of Economic Development, the Missouri Department of Transportation and the Springfield Area Chamber of Commerce to identify further subapplicants.

Shares of publicly traded Jarden Corp. (NYSE: JAH) were trading at $41.16 as of 12:18 p.m., compared to a 52-week range of $25.60 to $43.23.