Photo courtesy Emerson Process ManagementA new Emerson Process Management facility is under construction near the intersection of FM 1960 and Hwy. 290.
Emerson Process Management is consolidating its Willowbrook and Waller locations into a configuration facility and headquarters near Hwy. 290 and FM 1960, a move that will bring 125 new manufacturing and engineering jobs to the area. The 205,000 square-foot facility is located at the site of the former Jim Archer Chrysler Jeep dealership and is scheduled to open by May 2013.
Cy-Fair ISD trustees approved a resolution Aug. 13 in support of an application Emerson filed for approval of a foreign trade zone, a designation that provides special customs procedures to American companies engaged in international trade activities.
"Goods stored inside a foreign trade zone and tangible property produced in the U.S. and held in a foreign trade zone for exportation is exempt from ad valorem taxation, which allows companies to minimize costs while products are waiting to be shipped," said Stuart Snow, CFISD associate superintendent for business and financial services.
A company seeking an FTZ designation is required to meet with representatives from all the taxing entities in which the business is located to obtain letters of approval. Goods that enter an FTZ are not subject to customs tariffs until they leave the zone and enter U.S. customs territory. Merchandise shipped to foreign countries from an FTZ is exempt from duty payments.
