Each podcast that you work on within Captivate can have is own timezone set within "Show Settings".
This ensures that scheduled episodes can be managed in local time and that your podcast analytics are relative to the location that you're in.
To change your podcast's timezone:
From your Captivate dashboard click Podcast Settings in the blue show bar.
Scroll down the page to Additional Settings.
Set the default timezone.
Click on Update Show Settings.
You're all set!
Note: Your podcast download analytics will also be displayed in the same timezone in which your episodes are published. Awesome!