To help local companies compete overseas, the Port of Seattle offers a Foreign Trade Zone — a setup that lets qualifying companies avoid or defer certain duties and taxes. But the zone, granted by the federal government 61 years ago, hasn’t gotten a lot of use. Currently, only one company is operating in it.
The port hopes to generate more interest with the recent approval of a streamlined process that makes it easier for area companies to gain a competitive advantage, said a port spokesman.