Increase Your Competitive Edge
Foreign-Trade Zones (FTZs) provide a secure, efficient and profitable way for businesses to compete effectively in domestic and global markets. Businesses operating in FTZs have become a thriving sector of the U.S. economy.
Foreign-Trade Zones were legislated by U.S. Congress in 1934 to facilitate international trade and enhance the global competitiveness of U.S.-based companies and affiliates, whether the parent company is located domestically or abroad.
An FTZ is a secure area within the United States where foreign and domestic merchandise is considered to be outside of U.S. Customs territory. Deferred payment of customs duty is a key benefit of the program since merchandise imported into an FTZ is not subject to U.S. duties until it leaves the zone. Other key benefits include duty elimination on exports, inverted tariff opportunities, reduced merchandise processing fees, and a more secure and efficient supply chain.
Foreign-Trade Zones can be designated in industrial parks, distribution centers, and manufacturing and warehouse facilities. They can be multi-user facilities or specific to one company’s site.
World Trade Center Savannah is the grantee of Foreign-Trade Zone 104 and stands ready to help businesses save money and compete globally.
More information on Foreign Trade Zone 104