Foreign Trade Zone
Businesses looking to locate at the BRADFORD REGIONAL AIRPORT may be eligible for Foreign-Trade Zones (FTZ) benefits under a subzone of the Dubois Airport.
Foreign-Trade Zones are designated sites licensed by the Foreign-Trade Zones (FTZ) Board at which special Customs procedures may be used. These procedures allow domestic activity involving foreign items to take place prior to formal Customs entry. Duty-free treatment is accorded items that are re-exported and duty payment is deferred on items sold in the U.S. market, thus offsetting Customs advantages available to overseas producers who compete with producers located in the United States.
Sub zones are special-purpose zones, usually at manufacturing plants. A site which has been granted zone status may not be used for zone activity until the site or a section thereof has been separately approved for FTZ activation by local U.S. Customs officials, and the zone activity remains under the supervision of Customs. FTZ sites and facilities remain within the jurisdiction of local, state or federal governments or agencies.
Foreign Trade Zones can significantly cut business costs and improve return-on-investment and cash flow. Domestic and foreign goods can be placed in the FTZ without formal U.S. Customs entry. Pay no Customs duties or government excise taxes until your final product enters the U.S. market, at which point duty is paid on either the product itself or its component parts, whichever is lower.