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.

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.

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.

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.

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.

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.

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.