LAKE CHARLES, La. (AP) — LEEVAC Shipyards, LLC has received the go-ahead by the Port of Lake Charles to apply to receive foreign goods duty-free.
The American Press reports (http://bit.ly/1eOXZNb ) the port's Board of Commissioners on Monday approved items related to foreign trade zones, which included allowing the executive director to sign the application letter for the creation of a subzone for the company.
LEEVAC designs, fabricates and repairs vessels in the maritime industry, according to its website.
Dan Gaiennie, vice president of business development and engineering at LEEVAC, said the new measure will make LEEVAC more competitive when bidding for projects.
He said most duties are about 2 percent of the value of the goods.
"We're trying to keep the work flow going," he said.
The company employs more than 500 people at its three facilities in Lake Charles, Jennings and Houma.
According to federal regulations, the port is able to facilitate subzones 60 miles outside of its district for economic development.
Information from: American Press, http://www.americanpress.com