INTERNET MARKETING

INTERNET MARKETING

INTERNET MARKETING

 

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GDP Growth:   1.2% (1st QTR 2017)
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FOREIGN TRADE ZONES

 

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These Foreign Trade Zones (FTZ)

Foreign-Trade Zones (FTZ) are areas throughout the country that are established to help U.S. companies compete in international trade by making the administrative process of importing/exporting faster, easier and cheaper.  The FTZ program is a federal program designed to help companies based in the U.S. level the playing field in the global economy.

There are two types of Foreign-Trade Zones (FTZ): General-Purpose Zones and Subzones.

General Purpose Zones:  These are facilities that can be used by one or more firms and are most commonly located in ports or business/industrial parks.  There are three types of GPZs:

- Alternative Site Framework (ASF):  Companies located on parcels, zoned business or industrial parks & located in designated ASF county can quickly & inexpensively be designated with FTZ status.

- Magnet GPZ:  These sites are designated ports and business/industrial parks.  These sites include activities such as warehousing and distribution.  No FTZ board application is needed to establish operations within Magnet sites. 

- Usage-Driven GPZ:  This is where a specific company that is not located or be accomodated in a FTZ to be designated as a FTZ company.  The company must apply for this status.  Warehousing and distribution are the normal activities that take palce in this type of site.  It takes 30-45 days to process these applications.

Activity that is permitted in FTZs include: assemble, exhibit, clean, manipulate, manufacture, mixe, processe, relabele, repackage, repaire, salvage, sample, store, teste, displaye and destroye products.  Production activity must be specifically authorized by the FTZ Board.  Retail trade is prohibited in FTZs.

Any type of product that is not prohibigted from entry into the U.S. is allowed in FTZs.

FTZs allow U.S. based companies to defer, reduce, or even eliminate Custom duties on products admitted to the zone, and get products through customs using speical customs procedures. 

All FTZ sites must be located within 60 statute miles or 90 minutes driving time from the outer limits of a U.S. Customs port of entry.  Sub Zones may be located outside of the 60mile/90 minutes driving time requirement.

You can find FTZs and Subzones here:  U.S. Foreign-Trade Zones

 

 

 

 

 

 

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