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Supervisors OK Compact with Port to Handle More Local Exports


Monday, September 24th, 2012
Issue 39, Volume 16.


RIVERSIDE - The Riverside County Board of Supervisors today approved making formal arrangements with the Port of Los Angeles to handle more county-made and grown manufacturing and agricultural products bound for foreign shores.

"We have doubled our exports (in the last five years)," said board Chairman John Tavaglione. "Our manufacturers here are opening other avenues through trade agreements. ... That's resulted in (more) containers leaving the Port of L.A., going to other parts of the world."

The supervisors voted unanimously to authorize the county's Economic Development Agency to enter into a memorandum of understanding with the port that would ensure that future county-originating exports flow freely through the harbor.

"Having a partnership with the Port of Los Angeles will be of great benefit to our business community, our county and the Port of Los Angeles," Tavaglione said.

Specifics about what the MOU will entail were not explicit. But according to county Foreign Trade Commissioner Tom Freeman, the compact would pave the way for additional agreements on an as-needed basis to facilitate county goods.

The county has four tax-advantaged Foreign Trade Zones, as well as programs that provide expedited visa processing for investor immigrants and loans through the Export-Import Bank.

According to Freeman, 25,000 local Advertisement
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jobs are directly tied to the regional export market, which is valued at around $11.5 billion annually.


County Supervisors Consider Compact with Port of Los Angeles

RIVERSIDE - Riverside County supervisors tomorrow will consider whether to make formal arrangements with the Port of Los Angeles to handle more county-made and grown manufacturing and agricultural products bound for foreign shores.

Riverside County's Economic Development Agency is seeking to enter into a memorandum of understanding with the port that would ensure the efficient movement of county-originating exports in the future.

"Having a partnership with the Port of Los Angeles will be of great benefit to our business community, our county and the Port of Los Angeles," Board of Supervisors Chairman John Tavaglione said.

Specifics about what the MOU would entail were not immediately available. But according to county Foreign Trade Commissioner Tom Freeman, the compact would pave the way to additional agreements down the road.

The county has four tax-advantaged Foreign Trade Zones, as well as programs that provide expedited Visa processing for investor immigrants and loans through the Export-Import Bank.

According to Freeman, 25,000 local jobs are directly tied to the regional export market, which is valued at around $11.5 billion annually.


 

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