PORT AUTHORITY RECEIVES BELL GRANT TO AID FOREIGN TRADE ZONE APPLICATION

SCOTT CITY -- The Southeast Missouri Regional Port Authority is among 22 economic development organizations in the state to receive an Economic Excellence grant from Southwestern Bell Telephone.

The $7,000 grant will be used by the port authority to continue efforts toward its designation as a foreign trade zone by the U.S. Department of Commerce.

"We're very pleased Southwestern Bell has selected this project for funding," said port Executive Director Dan Overbey. "We are honored that they chose it and that we are among 22 organizations selected."

In all, 76 applications were submitted to judges and a total of $110,000 will be distributed.

"The whole purpose behind the Economic Excellence program is to encourage Missouri communities to maintain or enhance their competitive edges on business opportunities and sales," explained Donna Burk, area manager for Southwestern Bell. "Our local economies support job prospects, quality of life in our communities, and the revenue streams needed to support excellent services.

"The grants represent some of the finest ideas submitted to creatively keep investment and development dollars working hard for Missouri."

Overbey said the grant for the SEMO Port will be used to finish up the application that will be submitted. The final application will likely be between 150 and 200 pages.

"We're really at square one right now and trying to see where we need to go and what we need to do," said Overbey. "It is a very involved process. There has been some work done, which is already in place, but we have a long way to go on the application itself."

Overbey, who became director of the port last spring, said he is anxious to continue the work that has been started and move the foreign trade zone effort to a conclusion.

One factor to be considered is the zone cost that would have to be covered by the port authority.

"We still have to find out everything that goes into it. We would be doing well if we get the application in within six months, but at this point I'm not sure whether we can even do that," said Overbey.

Foreign trade zones provide industries some flexibility in the export and import process, said Overbey, and could become a good tool for the SEMO Port Authority to help existing businesses and to recruit new ones.

Overbey noted that there are not a lot of foreign trade zones on the inland waterways, something which could make such a designation here even more important.

This year's grant winners include two state agencies, four projects in the St. Louis metro area, four in the Kansas City metro area, and 12 projects in outstate Missouri.

Projects were considered only if they were located in an area served by Southwestern Bell and were judged on their potential to create, expand or retain jobs and revenues in Missouri.

Judges for the competition were representatives of the program's sponsors: the Missouri Department of Economic Development, Missouri Industrial Development Council, Hawthorn Foundation, Missouri Chamber of Commerce and Missouri Press Association.

Awards will be presented at the Missouri Community Betterment conference in Columbia on Oct. 24.