Nov. 9, 2010
Chinese Delegation Visit to Waynesboro on Friday, Nov. 12th, Opens Door to Trade with Central Virginia
Tour includes official opening of Wanzhou Business Liaison Office at Solutions Place and Signing of Cooperation Agreement
Special to Huntingtonnews.net
Waynesboro, Virginia (HNN) – A delegation of business and government officials from Wanzhou, China will visit the City of Waynesboro on Nov. 11-14 to expand trade relations in Central Virginia.
“The City of Wanzhou is a fast-growing area of Central China and this represents a great economic opportunity for the City of Waynesboro and Central Virginia,” said Greg Hitchin, Director of Economic Development for the City of Waynesboro. “We hope to strengthen the ties that we’ve already formed with Wanzhou, our Sister City, and continue establishing long-term trade practices that will benefit both regions.”
Tour organizers, including local and state officials, as well as business leaders from Allied Logistics and its subsidiary, Reo Distribution, are putting the final touches on the visit schedule.
In addition to a tour of local schools, a winery, cultural destinations and businesses, the centerpieces of the visit will include:
· A ribbon-cutting ceremony for the new Wanzhou Business Liaison Office at 1:30 p.m. on Nov. 12th at Solutions Place, One Solutions Way, in Waynesboro.
· A Cooperation Agreement Signing Ceremony at 8:30 a.m. on Nov. 12th at Waynesboro City Hall.
Solutions Place, a 300,000 square foot facility owned by Allied Logistics—one of the largest and most successful distribution, warehousing and processing companies based in the Mid-Atlantic Region—is among only a handful of locations in Central Virginia with a Foreign Trade Zone.
Foreign Trade Zones are federally designated sites that facilitate trade by deferring the payment of import tariffs and duties until the product formally enters the U.S., or avoids them entirely if they are shipped to a third country.
The Wanzhou Business Liaison Office will be located inside the Foreign Trade Zone at Solutions Place.
“We have already invested greatly in Solutions Place and see it as a prime piece of commercial property with lots of potential, ideally suited for companies of all types,” said Lake Polan III, CEO of Allied Logistics.
It is not only in a great location for companies that want to ship, store, or assemble products—with easy access to the key crossroads of I-64 and I-81, railway lines and international airports—but it’s also well-suited for office space.
“The homes in and around Waynesboro are affordable and within an easy commuting distance. You can also get a large amount of space at a price that is much cheaper than in many surrounding communities, and it is right at the base of the beautiful Blue Ridge Mountains,” Polan said.
The addition of the Wanzhou Business Liaison Office at the Foreign Trade Zone would add another economic dimension to the City of Waynesboro and surrounding communities as well.
The Foreign Trade Zone at Solutions Place should help boost the local and regional job market by attracting companies to the site that are interested in the benefits of increased trade and access to China, now the second largest economy in the world.
“In China, what you are seeing is a growing middle class, so that is an opportunity for companies to export to China and I think we’ll see that continue in the future,” said Scott Taylor, an attorney and expert in the field of Foreign Trade Zones.
His Kansas City-based law firm of Miller & Company has established hundreds of Foreign Trade Zone sites throughout the United States.
“This is a tool that can help attract international activity where there has not been as much international activity before,” said Taylor. “I’ve seen several examples where an area has added employment because of the Foreign Trade Zone … we’ve seen that first-hand several times.”
Taylor said there are several other benefits to Foreign Trade Zones.
The deferment of duties allows companies to manage their cash-flow better and take advantage of key exchange rates. Meanwhile, for manufacturers, many products assembled inside the Foreign Trade Zone site can reduce, or even eliminate entirely, duty payments.
Another advantage of the zone is that companies can avoid multiple payments of what are known as “weekly entry fees” on good and products. Such fees can cost nearly $500 per shipment. For businesses that deal in high volume trade, the savings can mean saving hundreds of thousands of dollars each year, according to Taylor.
In the case of Solutions Place, exports from the U.S. to China could include timber, USDA inspected foods, such as beef, and possibly more sophisticated goods, such as electronics that are in high demand among the growing middle class of China.
Meanwhile, it is envisioned that businesses in the U.S. might import raw goods and parts.
Tom Sikes, General Manager for Reo Distribution (which is also a subsidiary of Allied Logistics and the largest tenant at Solutions Place) first helped establish the Foreign Trade Zone at Solutions Place and ties with Wanzhou officials nearly two years ago.
“This visit comes after years of hard work to grow these relationships with Wanzhou officials and represents an enormous opportunity for not only our company, but the entire region and state of Virginia,” Sikes said. “Reo Distribution is proud to have helped forge the path and we believe this visit will continue to open cultural and economic doors between us.”
ABOUT THE WANZHOU DELEGATION
The Official Wanzhou delegation will include:
· Mr. Bai Wennong, Executive Deputy Governor of Wanzhou District, Government of Chongqing;
· Mr. Sun Jianguo, Deputy Chairman of Standing Committee of Wanzhou People, Congress of Chongqing;
· Mr. Xiong Gang, Director of Standing Committee of Wanzhou People, Congress of Chongqing;
· Mr. Jiang Xianrui, Deputy Director of Foreign Affairs Office of Wanzhou District Government of Chongqing;
· Ms. Zhang Youping, President of Chongqing Xiaobazian Restaurant Co. Ltd. and Deputy to Wanzhou People’s Congress; and
· Mr. Deng Xuemin, President of Chongqing Fish Well Preserved Vegetable (Group) Co. Ltd. and Member of the Standing Committee of Wanzhou People’s Congress.
ABOUT WANZHOU
With more than 600,000 residents in a region of 1.72 million people, Wanzhou is the second largest city in Chongqing. It is centrally located along the Yangtze River of the Three Gorges Reservoir Area and considered a key trading destination, feeding into much of Western China.
ABOUT THE CITY OF WAYNESBORO
The City of Waynesboro is centrally located in the southern portion of Virginia's scenic and historic Shenandoah Valley, just 90 miles northwest of the state capital of Richmond and 125 miles southwest of the nation's capital Washington DC. The City covers an area of approximately 15 square miles.
Waynesboro’s outstanding transportation infrastructure and central location has contributed to its rich history of manufacturing excellence. Industrial giants GE, Dupont (now Invista), and Mohawk paved the way for today’s business and industry including the Polymer Group, Intelos and Virginia Panel Company. Travel and tourism are an important part of the City’s history as well. Situated at the crossroads of the Blue Ridge Parkway, Sky Line Drive, Appalachian Trail and South River, Waynesboro offers a strategic respite for travelers and outdoor enthusiasts.
For more information about Waynesboro, please visit http://www.waynesboro.va.us
ABOUT ALLIED LOGISTICS
Allied Logistics, operating originally as Allied Warehousing Services, Inc., entered the warehousing business in 1970 when its parent company, Allied Realty Company (founded 1922), acquired a 100,000 square foot, multi-floor warehouse. The company has grown to operate over 2 million square feet of public and contract warehousing with nine facilities in the central and western areas of West Virginia and western Virginia. As the company grew, Allied Logistics was created to consolidate many of the services of the companies that had preceded it including Allied Transportation Services Company, Reo Distribution Services and Allied Processing Services.
For more information, visit http://www.alliedlogistics.com
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Chinese Delegation Visit to Waynesboro on Friday, Nov. 12th, Opens Door to Trade with Central Virginia
Tour includes official opening of Wanzhou Business Liaison Office at Solutions Place and Signing of Cooperation Agreement
Special to Huntingtonnews.net
Waynesboro, Virginia (HNN) – A delegation of business and government officials from Wanzhou, China will visit the City of Waynesboro on Nov. 11-14 to expand trade relations in Central Virginia.
“The City of Wanzhou is a fast-growing area of Central China and this represents a great economic opportunity for the City of Waynesboro and Central Virginia,” said Greg Hitchin, Director of Economic Development for the City of Waynesboro. “We hope to strengthen the ties that we’ve already formed with Wanzhou, our Sister City, and continue establishing long-term trade practices that will benefit both regions.”
Tour organizers, including local and state officials, as well as business leaders from Allied Logistics and its subsidiary, Reo Distribution, are putting the final touches on the visit schedule.
In addition to a tour of local schools, a winery, cultural destinations and businesses, the centerpieces of the visit will include:
· A ribbon-cutting ceremony for the new Wanzhou Business Liaison Office at 1:30 p.m. on Nov. 12th at Solutions Place, One Solutions Way, in Waynesboro.
· A Cooperation Agreement Signing Ceremony at 8:30 a.m. on Nov. 12th at Waynesboro City Hall.
Solutions Place, a 300,000 square foot facility owned by Allied Logistics—one of the largest and most successful distribution, warehousing and processing companies based in the Mid-Atlantic Region—is among only a handful of locations in Central Virginia with a Foreign Trade Zone.
Foreign Trade Zones are federally designated sites that facilitate trade by deferring the payment of import tariffs and duties until the product formally enters the U.S., or avoids them entirely if they are shipped to a third country.
The Wanzhou Business Liaison Office will be located inside the Foreign Trade Zone at Solutions Place.
“We have already invested greatly in Solutions Place and see it as a prime piece of commercial property with lots of potential, ideally suited for companies of all types,” said Lake Polan III, CEO of Allied Logistics.
It is not only in a great location for companies that want to ship, store, or assemble products—with easy access to the key crossroads of I-64 and I-81, railway lines and international airports—but it’s also well-suited for office space.
“The homes in and around Waynesboro are affordable and within an easy commuting distance. You can also get a large amount of space at a price that is much cheaper than in many surrounding communities, and it is right at the base of the beautiful Blue Ridge Mountains,” Polan said.
The addition of the Wanzhou Business Liaison Office at the Foreign Trade Zone would add another economic dimension to the City of Waynesboro and surrounding communities as well.
The Foreign Trade Zone at Solutions Place should help boost the local and regional job market by attracting companies to the site that are interested in the benefits of increased trade and access to China, now the second largest economy in the world.
“In China, what you are seeing is a growing middle class, so that is an opportunity for companies to export to China and I think we’ll see that continue in the future,” said Scott Taylor, an attorney and expert in the field of Foreign Trade Zones.
His Kansas City-based law firm of Miller & Company has established hundreds of Foreign Trade Zone sites throughout the United States.
“This is a tool that can help attract international activity where there has not been as much international activity before,” said Taylor. “I’ve seen several examples where an area has added employment because of the Foreign Trade Zone … we’ve seen that first-hand several times.”
Taylor said there are several other benefits to Foreign Trade Zones.
The deferment of duties allows companies to manage their cash-flow better and take advantage of key exchange rates. Meanwhile, for manufacturers, many products assembled inside the Foreign Trade Zone site can reduce, or even eliminate entirely, duty payments.
Another advantage of the zone is that companies can avoid multiple payments of what are known as “weekly entry fees” on good and products. Such fees can cost nearly $500 per shipment. For businesses that deal in high volume trade, the savings can mean saving hundreds of thousands of dollars each year, according to Taylor.
In the case of Solutions Place, exports from the U.S. to China could include timber, USDA inspected foods, such as beef, and possibly more sophisticated goods, such as electronics that are in high demand among the growing middle class of China.
Meanwhile, it is envisioned that businesses in the U.S. might import raw goods and parts.
Tom Sikes, General Manager for Reo Distribution (which is also a subsidiary of Allied Logistics and the largest tenant at Solutions Place) first helped establish the Foreign Trade Zone at Solutions Place and ties with Wanzhou officials nearly two years ago.
“This visit comes after years of hard work to grow these relationships with Wanzhou officials and represents an enormous opportunity for not only our company, but the entire region and state of Virginia,” Sikes said. “Reo Distribution is proud to have helped forge the path and we believe this visit will continue to open cultural and economic doors between us.”
ABOUT THE WANZHOU DELEGATION
The Official Wanzhou delegation will include:
· Mr. Bai Wennong, Executive Deputy Governor of Wanzhou District, Government of Chongqing;
· Mr. Sun Jianguo, Deputy Chairman of Standing Committee of Wanzhou People, Congress of Chongqing;
· Mr. Xiong Gang, Director of Standing Committee of Wanzhou People, Congress of Chongqing;
· Mr. Jiang Xianrui, Deputy Director of Foreign Affairs Office of Wanzhou District Government of Chongqing;
· Ms. Zhang Youping, President of Chongqing Xiaobazian Restaurant Co. Ltd. and Deputy to Wanzhou People’s Congress; and
· Mr. Deng Xuemin, President of Chongqing Fish Well Preserved Vegetable (Group) Co. Ltd. and Member of the Standing Committee of Wanzhou People’s Congress.
ABOUT WANZHOU
With more than 600,000 residents in a region of 1.72 million people, Wanzhou is the second largest city in Chongqing. It is centrally located along the Yangtze River of the Three Gorges Reservoir Area and considered a key trading destination, feeding into much of Western China.
ABOUT THE CITY OF WAYNESBORO
The City of Waynesboro is centrally located in the southern portion of Virginia's scenic and historic Shenandoah Valley, just 90 miles northwest of the state capital of Richmond and 125 miles southwest of the nation's capital Washington DC. The City covers an area of approximately 15 square miles.
Waynesboro’s outstanding transportation infrastructure and central location has contributed to its rich history of manufacturing excellence. Industrial giants GE, Dupont (now Invista), and Mohawk paved the way for today’s business and industry including the Polymer Group, Intelos and Virginia Panel Company. Travel and tourism are an important part of the City’s history as well. Situated at the crossroads of the Blue Ridge Parkway, Sky Line Drive, Appalachian Trail and South River, Waynesboro offers a strategic respite for travelers and outdoor enthusiasts.
For more information about Waynesboro, please visit http://www.waynesboro.va.us
ABOUT ALLIED LOGISTICS
Allied Logistics, operating originally as Allied Warehousing Services, Inc., entered the warehousing business in 1970 when its parent company, Allied Realty Company (founded 1922), acquired a 100,000 square foot, multi-floor warehouse. The company has grown to operate over 2 million square feet of public and contract warehousing with nine facilities in the central and western areas of West Virginia and western Virginia. As the company grew, Allied Logistics was created to consolidate many of the services of the companies that had preceded it including Allied Transportation Services Company, Reo Distribution Services and Allied Processing Services.
For more information, visit http://www.alliedlogistics.com
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