The Foreign-Trade Zones Board has published a notice in the Federal Register announcing the result of its consideration of an application, filed Sept.10, 2008, submitted by the Port of Houston Authority, to expand its zone to include six additional sites in the Houston, Texas area. The board therefore is granting authority to expand FTZ #84 as described in the application and Federal Register notice. The grant is subject to the FTZ Act and the board's regulations of a 2,000-acre activation limit for the overall general-purpose zone project and further subject to a sunset provision that would terminate authority on May 31, 2014 for Sites 17 - 22, where no activity has occurred under FTZ procedures before that date.
To view this article, please visit Export Industry News.
Showing posts with label FTZ. Show all posts
Showing posts with label FTZ. Show all posts
Friday, June 12, 2009
Wednesday, June 10, 2009
Strategic Plan and Location for Famous Footwear Provider
Brown Shoe Company, Inc. recently marked the completion of its 350,000-square foot Famous Footwear Distribution Center, adding time savings and cost efficiencies to the process of shipping footwear to the chain's stores and consumers on the West Coast.
The Famous Footwear DC is located within Tejon Industrial Complex (TIC), a 1,450-acre master-planned business park anchoring California's central trade corridor at the junction of Interstate 5 and Highway 99 in Central California. TIC is part of the 270,000-acre Tejon Ranch, the largest contiguous expanse of private land in California. This strategic location, approximately 90 minutes north of the Los Angeles ports and four hours south of Oakland, gives warehouse operators efficient access to the state's two major port complexes and the ability to serve consumers from San Francisco to San Diego and east to Las Vegas in a one-day truck turn.
The Famous Footwear DC currently employs about 75 people, and is expected to create approximately 40 additional jobs in upcoming months. TIC provides access to the qualified workforce of the Bakersfield area, a 24-hour operating environment critical to warehouse operators, Foreign Trade Zone designation, efficient access to all the transit corridors of the 11 Western States, and has ample room for future expansion and customization.
To read the full article, visit Business Facilities.
Friday, June 5, 2009
FTZ Board Grants ZF Lemforder Corporation Authority for FTZ #38 Subzone Status
In a notice published in the Federal Register on June 3, the Foreign-Trade Zones (FTZ) Board granted authority for subzone status for activity related to assembly of automotive suspension systems at the ZF Lemforder Corporation facility located in Spartanburg, SC (Subzone 7), as requested by the South Carolina Ports Authority, grantee of FTZ #38. The application was formally filed on April 30, 2008.
To read the full article, please visit Export Industry News.
To read the full article, please visit Export Industry News.
International Business to Bring Growing Green Operation to Anderson, IN
A five-person team from Variety Global Business (VGB) Group spent the past three days in Anderson, IN where the company is considering a manufacturing and distribution center. At a time when much U.S. manufacturing has moved to Asia, John Lin, Founder of VGB, said he wants to bring his Chinese company to Anderson because of the skilled work force and to bring his product closer to his customers.
John Pitre, CEO of VGB’s “starchware” division, said the company has accelerated its timeline and could be operational in Anderson in nine months. VGB has also expanded the scope of the project from 120-140 jobs to around 450 jobs.
VGB produces “starchware,” an alternative to plastic foam products such as Styrofoam, made from corn starch. Pitre said tableware is the kind used at a picnic, while industrial starchware is used for food packaging. VGB claims its starchware is 97.7 percent compostable, and breaks down in just 120 days in a landfill.
Economic Development Director Linda Dawson said city officials put VGB in contact with creative banking experts and an architectural firm. The city also explained Anderson’s foreign trade zones as a designated area of the city that is like a foreign country, noting that most of the former automotive plants have been designated as FTZs. “Plant 9, for example, is not in an FTZ, but if we have an area already designated as an FTZ, we have the ability to swap properties.”
Officials from VGB haves expressed interest in the former General Motors Corp. Plant 20, off 38th Street near Scatterfield Road. But Plant 9, across from the former Guide Corp. property near 38th Street and Martin Luther King Jr. Boulevard, is also being considered for short-term operations.
For more information on the decision to manufacture out of Anderson, IN please visit The Herald Bulletin.
John Pitre, CEO of VGB’s “starchware” division, said the company has accelerated its timeline and could be operational in Anderson in nine months. VGB has also expanded the scope of the project from 120-140 jobs to around 450 jobs.
VGB produces “starchware,” an alternative to plastic foam products such as Styrofoam, made from corn starch. Pitre said tableware is the kind used at a picnic, while industrial starchware is used for food packaging. VGB claims its starchware is 97.7 percent compostable, and breaks down in just 120 days in a landfill.
Economic Development Director Linda Dawson said city officials put VGB in contact with creative banking experts and an architectural firm. The city also explained Anderson’s foreign trade zones as a designated area of the city that is like a foreign country, noting that most of the former automotive plants have been designated as FTZs. “Plant 9, for example, is not in an FTZ, but if we have an area already designated as an FTZ, we have the ability to swap properties.”
Officials from VGB haves expressed interest in the former General Motors Corp. Plant 20, off 38th Street near Scatterfield Road. But Plant 9, across from the former Guide Corp. property near 38th Street and Martin Luther King Jr. Boulevard, is also being considered for short-term operations.
For more information on the decision to manufacture out of Anderson, IN please visit The Herald Bulletin.
Wednesday, June 3, 2009
Enid City, Oklahoma Gets the OK for a FTZ
A foreign trade zone can be a significant economic development for the city of Enid because it can allow participating businesses to defer or eliminate taxes on imported items.
Matthew S. Weaver, director of marketing and business development for Oklahoma City Free Trade Zone, discussed the benefits during the Enid City Commission study session Tuesday night. Weaver said a foreign trade zone is a customs duty management program created by the federal government in 1934 as part of the New Deal. Its purpose is to expedite trade and help increase global competitiveness of U.S.-based companies.
FTZ 106, located at Will Rogers World Airport, is a grantee and can grant the status to Enid. The city’s plan is to establish the zone at Enid Woodring Regional Airport, to aid in the development of an industrial park there. Weaver said there are cash flow advantages, including lower inventory costs, deferred, reduced or eliminated customs duties (taxes), savings distribution, preferential duty rates and other advantages.
An item allowing the establishment of a foreign trade zone was approved during the regular commission meeting.
To read the full article, please visit Enid News.
Matthew S. Weaver, director of marketing and business development for Oklahoma City Free Trade Zone, discussed the benefits during the Enid City Commission study session Tuesday night. Weaver said a foreign trade zone is a customs duty management program created by the federal government in 1934 as part of the New Deal. Its purpose is to expedite trade and help increase global competitiveness of U.S.-based companies.
FTZ 106, located at Will Rogers World Airport, is a grantee and can grant the status to Enid. The city’s plan is to establish the zone at Enid Woodring Regional Airport, to aid in the development of an industrial park there. Weaver said there are cash flow advantages, including lower inventory costs, deferred, reduced or eliminated customs duties (taxes), savings distribution, preferential duty rates and other advantages.
An item allowing the establishment of a foreign trade zone was approved during the regular commission meeting.
To read the full article, please visit Enid News.
Charlotte Regional Partnership Named Grantee for FTZ 57
The Charlotte Regional Partnership has become the grantee and administrator for Foreign Trade Zone 57. Although designated "Mecklenburg County," FTZ 57 extends beyond the county's borders, including sites in Alexander, Cabarrus and Catawba counties.
The N.C. Department of Commerce requested that the public/private economic development organization provide the zone's oversight, so there was more direct regional involvement. Although FTZ 57 is the oldest in the state, it was the only one of the six North Carolina foreign trade zones that wasn't under local control.
"Although we always have promoted the FTZ as one of our regional assets, as the zone's administrator, we can more directly market and grow the foreign trade zone, as we work with existing industry and recruit new businesses to Charlotte USA," said Ronnie Bryant, Charlotte Regional Partnership president and chief executive officer.
Foreign trade zones offer tax and duty advantages to the existing industry and serve as an incentive to attract companies. Since FTZs are legally outside U.S. Customs territory, merchandise from anywhere in the world may enter a foreign trade zone without a formal customs entry or the payment of customs duties or government excise taxes.
Foreign trade zones can be a building or just a room, but they must be within 90 miles of a U.S. Customs and Border Protection port of entry. FTZ 57 includes 16 general purpose sites for public use, as well as two subzones that are company exclusive. Several additional sites are pending approval by the U.S. Foreign Trade Zones Board.
The N.C. Department of Commerce requested that the public/private economic development organization provide the zone's oversight, so there was more direct regional involvement. Although FTZ 57 is the oldest in the state, it was the only one of the six North Carolina foreign trade zones that wasn't under local control.
"Although we always have promoted the FTZ as one of our regional assets, as the zone's administrator, we can more directly market and grow the foreign trade zone, as we work with existing industry and recruit new businesses to Charlotte USA," said Ronnie Bryant, Charlotte Regional Partnership president and chief executive officer.
Foreign trade zones offer tax and duty advantages to the existing industry and serve as an incentive to attract companies. Since FTZs are legally outside U.S. Customs territory, merchandise from anywhere in the world may enter a foreign trade zone without a formal customs entry or the payment of customs duties or government excise taxes.
Foreign trade zones can be a building or just a room, but they must be within 90 miles of a U.S. Customs and Border Protection port of entry. FTZ 57 includes 16 general purpose sites for public use, as well as two subzones that are company exclusive. Several additional sites are pending approval by the U.S. Foreign Trade Zones Board.
Friday, May 22, 2009
FTZ Board Grants Michelin North American Authority for FTZ #50 Subzone Status
In a notice published in the Federal Register on May 20, the Foreign-Trade Zones Board granted authority for subzone status for activity related to tire warehousing and distribution at the Michelin North America, Inc. facility located in San Bernardino, California, as requested by the Board of Harbor Commissioners of the Port of Long Beach, grantee of FTZ #50. The application was formally filed on May 28, 2008.
The FTZ Board adopted the findings and recommendations of the examiner's report and found that the requirements of the FTZ Act and the board's regulations were satisfied and that approval of the application was in the public interest. The subzone status is subject to the FTZ Act and the board's regulations.
To view this article, please visit Export Industry News.
The FTZ Board adopted the findings and recommendations of the examiner's report and found that the requirements of the FTZ Act and the board's regulations were satisfied and that approval of the application was in the public interest. The subzone status is subject to the FTZ Act and the board's regulations.
To view this article, please visit Export Industry News.
Expansion Sought for Louisiana's FTZ #124
An application has been submitted to the Foreign-Trade Zones Board by the Port of South Louisiana, grantee of FTZ #124, requesting special-purpose subzone status for the barite milling facility of Excalibur Minerals LLC, located in New Iberia, Louisiana. It was formally filed on May 6, 2009.
The Excalibur facility is used for activities related to the milling (heating, grinding, crushing), storage and distribution of ground barite, primarily for the US market. The material that would be purchased from abroad is raw barite, dutiable at $1.25 per metric ton.
FTZ procedures could excempt the company from customs duty payments on the foreign component used in export production. The company anticipates that less than 1% of the plant's shipments will be exported. On its domestic sales, Excalibur would be able to choose the duty rate during customs entry procedures that applies to the ground barite (duty free) for the foreign input noted above. FTZ designation would further allow Excalibur to realize logistical benefits through the use of weekly customs entry procedures, as well as savings from the elimination of duties on materials that become scrap/waste during manufacturing. The application indicates that the FTZ-related savings would help improve the facility's international competitiveness.
To read more, please visit Import Industry News.
The Excalibur facility is used for activities related to the milling (heating, grinding, crushing), storage and distribution of ground barite, primarily for the US market. The material that would be purchased from abroad is raw barite, dutiable at $1.25 per metric ton.
FTZ procedures could excempt the company from customs duty payments on the foreign component used in export production. The company anticipates that less than 1% of the plant's shipments will be exported. On its domestic sales, Excalibur would be able to choose the duty rate during customs entry procedures that applies to the ground barite (duty free) for the foreign input noted above. FTZ designation would further allow Excalibur to realize logistical benefits through the use of weekly customs entry procedures, as well as savings from the elimination of duties on materials that become scrap/waste during manufacturing. The application indicates that the FTZ-related savings would help improve the facility's international competitiveness.
To read more, please visit Import Industry News.
Wednesday, May 20, 2009
FTZs Help Companies Save Millions During Touch Economic Times
While no one likes difficult and tough economic down cycles, periods like the one we're in now serve the useful purpose of helping companies increase their focus on business process improvement--for example, by exposing inadequate global trade processes in order to improve them. Global trade, despite the current downturn, is in a long-term growth cycle. Combined U.S. imports and exports increased from under $100 billion in 1968 to nearly $3.5 trillion dollars in 2008--with almost half that total growth occurring in the last decade.
Given this reality, it's critical that business executives and global trade directors leverage current economic challenges to create fast and significant international trade process improvements, carefully investing limited capital in those areas where it can get the biggest bang for the buck. One excellent way to do this is by taking advantage of the U.S. Foreign-Trade Zone (FTZ) program. “Foreign-Trade Zones can save U.S. importers millions of dollars and will often improve the speed of the supply chain,” explains Tommy Berry, President and CEO of PointTrade Services.
To read the full article, visit the Utah Pulse.
Given this reality, it's critical that business executives and global trade directors leverage current economic challenges to create fast and significant international trade process improvements, carefully investing limited capital in those areas where it can get the biggest bang for the buck. One excellent way to do this is by taking advantage of the U.S. Foreign-Trade Zone (FTZ) program. “Foreign-Trade Zones can save U.S. importers millions of dollars and will often improve the speed of the supply chain,” explains Tommy Berry, President and CEO of PointTrade Services.
To read the full article, visit the Utah Pulse.
Monday, May 11, 2009
Approval for Expansion of Hyundai Motor Manufacturing Alabama, LLC
The Montgomery Area Chamber of Commerce, grantee of FTZ 222, has requested authority on behalf of Hyundai Motor Manufacturing Alabama (HMMA), LLC to expand the scope of manufacturing authority (additional engine capacity) conducted under zone procedures within Subzone 222A at the HMMA facility in Montgomery, Alabama.
The application to expand the scope of the manufacturing authority under zone procedures is approved, subject to the Foreign-Trade Zones Act and the Foreign-Trade Zone Board.
To read the full article, please visit Trading Markets.
The application to expand the scope of the manufacturing authority under zone procedures is approved, subject to the Foreign-Trade Zones Act and the Foreign-Trade Zone Board.
To read the full article, please visit Trading Markets.
Reorganization and Expansion Sought for Virginia's FTZ-20
An application has been submitted to the Foreign-Trade Zones Board by the Virginia Port Authority, grantee of FTZ #20, requesting authority to reorganize and expand the zone project within the Norfolk Customs and Border Protection port of entry. The application was submitted pursuant to the provisions of the Foreign-Trade Zones Act and the regulations of the Board. The zone project consists of eighteen sites in the Hampton Roads area, with an overall increase of 639 acres in the total zone space. The sites will provide warehousing and distribution services to area businesses. No specific manufacturing authority is being requested at this time.
To read the full article, please visit Import Industry News.
To read the full article, please visit Import Industry News.
Wednesday, May 6, 2009
Proposed FTZ in Kern County, California
An application has been submited to the Foreign-Trade Zones Board by the County of Kern Department of Airports to establish a general-purpose foreign-trade zone at sites in Kern County, California. Meadows Field Airport in Kern County has been designated by US Customs and Border Protection (CBP) as a user fee airport. The application was submitted pursuant to the provisions of the FTZ Act and the regulations of the Board. It was formally filed on April 28, 2009.
For more details on the proposed zone, please visit Export Industry News.
For more details on the proposed zone, please visit Export Industry News.
Monday, May 4, 2009
Salt Lake City Foreign Trade Zone Launch Event and Educational Seminar
Plan now to attend the Salt Lake Foreign Trade Zone Launch Event, May 14 from 12 to 1:30 p.m. at the Grand America Hotel, Imperial Ballroom B, where you will learn how you can use this important asset to defer, reduce or eliminate customs duties, improve cash flow, lower inventory costs and streamline customs procedures.
Cost is $20 and includes lunch. RSVP by May 8, 2009 to Amber Deibert at adeibert@edcutah.org with your credit card information and the number attending.
For more information on the Salt Lake City FTZ Seminar, please visit the Utah Pulse.
Cost is $20 and includes lunch. RSVP by May 8, 2009 to Amber Deibert at adeibert@edcutah.org with your credit card information and the number attending.
For more information on the Salt Lake City FTZ Seminar, please visit the Utah Pulse.
Application for Expansion of FTZ-75 in Phoenix, Arizona
An application has been submitted to the Foreign-Trade Zones Board by the City of Phoenix, Arizona, grantee of FTZ 75, requesting authority to expand the zone project within the Phoenix Customs and Border Protection port of entry. It was formally filed on April 23, 2009.
The applicant is requesting authority to expand the general-purpose zone to include the jet fuel storage and distribution system at, and adjacent to, the Phoenix Sky Harbor International Airport in Phoenix, Arizona (Proposed Site 5). The system includes the off-airport terminal, airport terminal, subsurface pipeline and airport hydrant fueling system. These facilities consist primarily of storage tanks, pipelines, pumps, valves, filters, meters and related equipment. The system is operated by Airport Fueling Facilities Corporation, which is a consortium of airlines that service the airport. No specific manufacturing authority is being requested at this time. Such requests would be made to the Board on a case-by-case basis.
To read the full article, please visit Trading Markets.
The applicant is requesting authority to expand the general-purpose zone to include the jet fuel storage and distribution system at, and adjacent to, the Phoenix Sky Harbor International Airport in Phoenix, Arizona (Proposed Site 5). The system includes the off-airport terminal, airport terminal, subsurface pipeline and airport hydrant fueling system. These facilities consist primarily of storage tanks, pipelines, pumps, valves, filters, meters and related equipment. The system is operated by Airport Fueling Facilities Corporation, which is a consortium of airlines that service the airport. No specific manufacturing authority is being requested at this time. Such requests would be made to the Board on a case-by-case basis.
To read the full article, please visit Trading Markets.
Wednesday, April 29, 2009
TEDA Seeking Foreign-Trade Subzone Status
Once a year, community leaders from Terrebonne and Lafourche embark upon a mission to Washington, D.C. with hopes of persuading our federal leaders to help get funding for projects, change laws and consider federal applications. This year’s trip, organized by the Houma-Terrebonne Chamber of Commerce, began on March 29.
Focused on identifying and promoting opportunities for business and industry, Terrebonne Economic Development Authority's (TEDA) itinerary included meetings with the Department of Transportation’s marine administration, Senators Mary Landrieu and David Vitter, Representative Charlie Melancon, Invest in America, the Small Business Administration, the Department of Labor, the Foreign Trade Zone-Department of Commerce, EX-IM Bank and the USDA.
Two meetings in particular, one with the Foreign Trade Zone-Department of Commerce, and another with EX-IM Bank, laid the foundation for immediate-action items upon Ferdinand’s return to Terrebonne. For three years, TEDA has pursued Foreign Trade Subzone status for several Terrebonne businesses.
“Its value is a marketing tool to attract and retain businesses to Terrebonne in order to manufacture, sell, and collect taxes on the items it produces,” Ferdinand commented.
In the meeting, several opportunities were realized for Terrebonne. As a result, TEDA is pursuing a new platform within the program for Terrebonne to receive FTZ status.
To read the full article, visit the Daily Comet.
Focused on identifying and promoting opportunities for business and industry, Terrebonne Economic Development Authority's (TEDA) itinerary included meetings with the Department of Transportation’s marine administration, Senators Mary Landrieu and David Vitter, Representative Charlie Melancon, Invest in America, the Small Business Administration, the Department of Labor, the Foreign Trade Zone-Department of Commerce, EX-IM Bank and the USDA.
Two meetings in particular, one with the Foreign Trade Zone-Department of Commerce, and another with EX-IM Bank, laid the foundation for immediate-action items upon Ferdinand’s return to Terrebonne. For three years, TEDA has pursued Foreign Trade Subzone status for several Terrebonne businesses.
“Its value is a marketing tool to attract and retain businesses to Terrebonne in order to manufacture, sell, and collect taxes on the items it produces,” Ferdinand commented.
In the meeting, several opportunities were realized for Terrebonne. As a result, TEDA is pursuing a new platform within the program for Terrebonne to receive FTZ status.
To read the full article, visit the Daily Comet.
One Local Company Operates One of the Busiest FTZs in the US
World Warehouse and Distribution Executive Vice President Bill Glaude said the company has been told by local Customs and Border Protection officials that U.S. Foreign Trade Zone #54, which takes up 111,000 square feet of its Champlain facilities, is the most active Foreign Trade Zone in the United States.
The largest part of that activity involves a distribution project for Modelo Molson Imports L.P. Modelo Molson Imports was formed in 2008 to import, distribute and market the Modelo portfolio of beers throughout Canada.
World Warehouse has handled Modelo Molson's shipments to Canada's Maritime provinces and Ontario since late April 2008. The brands include Corona, Corona Light and Negra Modelo.
"We average 2,000 ocean containers a year in-bound," Glaude said. "That equates to about 3.5 million cases of beer."
That means approximately 2,000 container loads of Corona, Corona Light and Negra Modelo beer, about 3.5 million cases, passed through the Clinton County Foreign Trade Zone last year.
To read the full article, please visit Press Republican.
The largest part of that activity involves a distribution project for Modelo Molson Imports L.P. Modelo Molson Imports was formed in 2008 to import, distribute and market the Modelo portfolio of beers throughout Canada.
World Warehouse has handled Modelo Molson's shipments to Canada's Maritime provinces and Ontario since late April 2008. The brands include Corona, Corona Light and Negra Modelo.
"We average 2,000 ocean containers a year in-bound," Glaude said. "That equates to about 3.5 million cases of beer."
That means approximately 2,000 container loads of Corona, Corona Light and Negra Modelo beer, about 3.5 million cases, passed through the Clinton County Foreign Trade Zone last year.
To read the full article, please visit Press Republican.
Wednesday, April 22, 2009
Expansion Sought for Another Kansas City Foreign-Trade Zone
An application has been submitted requesting the authority to expand Kansas City's Foreign-Trade Zone #17. It was formally filed to the Foreign-Trade Zones Board only 5 days after the submitted request for changes to FTZ #15.
The applicant is requesting authority to expand the general-purpose zone to include the Midwest Commerce Center, located at 17159 Mercury Street in Gardner, Kansas. The proposed new site would be designated Site 8 and will be used for warehousing, storage, and distribution activities. No specific manufacturing requests are being made at this time.
The FTZ Board is inviting public comment on the application. Submissions shall be addressed to the Board's Executive Secretary. The closing period for their receipt is June 19, 2009.
For more details on the request for expansion of FTZ #17 in Kansas City, please visit Import Industry News.
The applicant is requesting authority to expand the general-purpose zone to include the Midwest Commerce Center, located at 17159 Mercury Street in Gardner, Kansas. The proposed new site would be designated Site 8 and will be used for warehousing, storage, and distribution activities. No specific manufacturing requests are being made at this time.
The FTZ Board is inviting public comment on the application. Submissions shall be addressed to the Board's Executive Secretary. The closing period for their receipt is June 19, 2009.
For more details on the request for expansion of FTZ #17 in Kansas City, please visit Import Industry News.
Monday, April 20, 2009
Reorganization and Expansion Sought for Kansas City's Foreign-Trade Zone #15
An application has been submitted to the Foreign-Trade Zones (FTZ) Board by the Greater Kansas City Foreign-Trade Zone, Inc (grantee of FTZ 15) requesting authority to reorganize and expand the zone in the Kansas City, Missouri, area within the Kansas City Customs and Border Protection port of entry. The application was submitted pursuant to the provisions of the Foreign-Trade Zones Act and the regulations of the Board. It was formally filed on April 8, 2009.
In accordance with the Board's regulations, Christopher Kemp of the FTZ staff has been designated examiner to investigate the application and report to the Board.
For more details on the application in review, please visit Import Industry News
In accordance with the Board's regulations, Christopher Kemp of the FTZ staff has been designated examiner to investigate the application and report to the Board.
For more details on the application in review, please visit Import Industry News
Monday, April 6, 2009
Expansion Sought for Kentucky's Foreign-Trade Zone #29
An application has been submitted to the Foreign-Trade Zones Board by the Louisville and Jefferson County Riverport Authority, grantee of Foreign-Trade Zone #29, requesting special-purpose subzone status for the aluminum foil liner stock manufacturing plant and warehouse of Reynolds Packaging LLC (Reynolds), located in Louisville, Kentucky. The application was submitted pursuant to the provisions of the Foreign-Trade Zones Act, as amended (19 U.S.C. 81a-81u), and the regulations of the Board (15 CFR part 400). It was formally filed on March 25, 2009.
FTZ procedures could exempt Reynolds from customs duty payments on the foreign aluminum converter foil used in export production (about 15% of annual shipments). On domestic shipments, the company would be able to elect the duty rate that applies to finished aluminum foil liner stock (duty free) for the foreign aluminum converter foil. Reynolds would also be exempt from duty payments on any aluminum foil for consumer use that becomes scrap or waste during the repackaging activity. The application indicates that the savings from FTZ procedures would help improve the facilities’ international competitiveness.
To view the full article, visit The Official Export Guide at
http://blogs.officialexportguide.com/news/?p=2430
FTZ procedures could exempt Reynolds from customs duty payments on the foreign aluminum converter foil used in export production (about 15% of annual shipments). On domestic shipments, the company would be able to elect the duty rate that applies to finished aluminum foil liner stock (duty free) for the foreign aluminum converter foil. Reynolds would also be exempt from duty payments on any aluminum foil for consumer use that becomes scrap or waste during the repackaging activity. The application indicates that the savings from FTZ procedures would help improve the facilities’ international competitiveness.
To view the full article, visit The Official Export Guide at
http://blogs.officialexportguide.com/news/?p=2430
Wednesday, April 1, 2009
If You Were in Doubt, Utah Really is Global
The phrase "Utah is global" took on even greater meaning last week, when the Foreign-Trade Zones Board of the U.S. Department of Commerce approved Salt Lake City's application to reactivate Foreign Trade Zone #30.
A Foreign Trade Zone (FTZ) is a geographical location, licensed by the U.S. government. Salt Lake City's FTZ will offer Utah businesses important advantages in competing on a global scale.
"This is great news for Salt Lake City and Utah businesses," says Mayor Ralph Becker, "and a great complement to the other assets we have in place as a global city."
To read the full article, visit the Utah Pulse at http://www.utahpulse.com/featured_article/if-you-were-doubt-utah-really-global
A Foreign Trade Zone (FTZ) is a geographical location, licensed by the U.S. government. Salt Lake City's FTZ will offer Utah businesses important advantages in competing on a global scale.
"This is great news for Salt Lake City and Utah businesses," says Mayor Ralph Becker, "and a great complement to the other assets we have in place as a global city."
To read the full article, visit the Utah Pulse at http://www.utahpulse.com/featured_article/if-you-were-doubt-utah-really-global
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