If you are a United States-based company involved in international trade, the Foreign-Trade Zone (FTZ) program provides a means of improving your competitive position vis-a-vis your counterparts abroad. By using the FTZ program, you can defer, reduce or even eliminate Customs duties on products admitted to the zone. There are over 3,500 U.S. firms with over 350,000 people employed at facilities operating under FTZ status. Exports from FTZs exceed $17 billion dollars annually and are growing fast.
Foreign-Trade Zones present advantages and opportunities for businesses seeking a competitive edge in the world marketplace.
Established in 1934 by an act of Congress, "A Foreign-Trade Zone (FTZ) is a restricted-access site, in or adjacent to a Customs port of entry, operated as a public utility and as granted authority by the FTZ Board/Department of Commerce and under supervision of the Customs Service."
Simply, it is a secured place authorized by the federal government, considered to be outside the Customs territory of the United States, though under U.S. Customs supervision and control.
Foreign-Trade Zones present advantages and opportunities for businesses seeking a competitive edge in the world marketplace.
Established in 1934 by an act of Congress, "A Foreign-Trade Zone (FTZ) is a restricted-access site, in or adjacent to a Customs port of entry, operated as a public utility and as granted authority by the FTZ Board/Department of Commerce and under supervision of the Customs Service."
Simply, it is a secured place authorized by the federal government, considered to be outside the Customs territory of the United States, though under U.S. Customs supervision and control.
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