SIDNEY - Nebraska Gov. Pete Ricketts is calling the approval of Adams Industries as a foreign-trade zone "fantastic news."

The Sidney-based warehousing and supply chain company announced the designation last week.

95% of the world's consumers lie outside Nebraska's borders, according to Ricketts. He says one of the key pillars of prosperity in the state is making sure trade opportunities overseas are available.

"With this foreign trade zone, that will help facilitate those trade relationships," Ricketts said. "It'll give Adams Industries the opportunity to reduce the tariffs on those items that are being imported here. In general, I think it's great for Sidney that they see that this is going to be a part of their overall growth strategy - to look overseas and expand trade opportunities."

With the approval, any materials Adams Industries stores in activated zones are not subject to tariffs as long as the materials are there. Items in approved zones also fall under U.S Customs and Border Patrol protection.

As Sidney recovers from the Cabela's/Bass Pro Shops merger, Ricketts says looking at other alternatives - such as the addition of companies like Lukjan, Vitalix, UST Global, Agri-Plastics, Highby Outdoors and Nexgen Outfitters - has been key to improving the local economy.

"All those companies are really looking to employ people in Sidney. Having this foreign-trade designation will help expand the profile of Sidney, people know Sidney is open for business, and I think that will also help attract more investment."

Adams Industries believes the approval will help their business grow and draw manufacturers to the area.

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