JAXPORT's Foreign-Trade Zone expands
July 16, 2012
Approval of new FTZ area offers Northeast Florida businesses access to cost-savings program
The Jacksonville Port Authority (JAXPORT) announced today that the U.S. Department of Commerce has added three North Florida counties to the Foreign-Trade Zone (FTZ) #64 service area. Companies in Bradford, Putnam and St. Johns counties may now secure zone designation and take advantage of FTZ-related savings in as few as 30 days under the recently updated Alternative Site Framework program. The expansion of FTZ #64 is helping attract new cargo, manufacturing and distribution operations to the region by offering companies cost- and time-savings. U.S. Customs and Border Protection supervises the FTZ program for the U.S. Department of Homeland Security.
These three counties now join Duval, Nassau, Clay, Baker, and Columbia as part of FTZ #64. Duval and the surrounding counties offer up to 2,000 acres eligible for designation as approved sites within the FTZ service area. Manufacturing, storage and distribution centers in these areas may apply to receive imported cargo directly and are considered to be outside U.S. Customs territory until the goods are transferred out of the FTZ.
A Foreign-Trade Zone is a secured site within the United States, but technically considered outside of U.S. Customs’ jurisdiction. FTZs help attract importers, exporters and manufacturers by allowing them to operate more efficiently and cost-effectively. The FTZ exempts or reduces dutiable foreign merchandise that is imported, stored within an approved facility and re-exported without being formally entered into the U.S. Companies pay only when goods are transferred out of the FTZ and there are no duties on zone-to-zone transfers.
“Our core mission at JAXPORT is to develop and grow the port in order to generate positive economic results for private sector businesses throughout the region. Offering neighboring counties the opportunity to use the benefits of our FTZ to assist existing business and attract new business helps us fulfill that mission,” said Raul Alfonso, JAXPORT’s Senior Director of Trade Development and Global Marketing.
For more information on taking advantage of the benefits of Foreign-Trade Zone #64 for you business, please contact Lisa Diaz, JAXPORT’s Manager of Foreign-Trade Zone and Customer Service at Lisa.Diaz@jaxport.com or 904-357-3072.