FOREIGN TRADE ZONE
Huntley area businesses are located within Foreign Trade Zone (FTZ) #176, and therefore have access to all the benefits associated with participating in FTZ programs. The FTZ program is a partnership between the U.S. government and private sector importers. Each approved location is a specially designated area and considered to be outside of U.S. Customs territory. For that reason, when cargo arrives in the country for an FTZ operator, it does not immediately clear customs. The cargo receives preferential treatment with duties deferred, reduced or eliminated. In addition, there are supply chain, inventory control and other savings available through the FTZ program. The U.S. Commercial Service can be helpful in determining how exporting can enhance your business.
Who can operate a Foreign Trade Zone?
Any entity can become an activated site or subzone. Most are owned and operated by private businesses through approval and regulation from the federal government.
Will My Company Benefit?
Indicators that your company should consider FTZ include:
Indicators that your company should consider FTZ include:
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You are located in the Huntley area
- You import significant value of product, and/or expect imports to grow
- You re-export a substantial percentage of imports
- You hold significant value of inventory
- Top Five Reasons to become a FTZ
- What is a Foreign Trade Zone?
- FTZ Benefits
- Learn more about eligibility criteria and the overall process at Foreign Trade Zone (FTZ) #176