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Shoreside Logistics is pleased to announce its designation as a Foreign Trade Zone (FTZ). An FTZ is a secured site considered outside U.S. Customs territory where foreign cargo can be stored while delaying, reducing or eliminating import duties. By using Shoreside as their FTZ, businesses only pay duties once the cargo leaves the foreign trade zone, in the case of imported raw materials, once the final product enters U.S. commerce. The goal of the FTZ program is to stimulate economic growth through foreign commerce within the U.S., and Shoreside believes the timing of its new designation will be an asset to customers.
“We’re pleased to provide our customers with the many cost-saving benefits that operating under an FTZ offers,” said Shoreside Logistics President Tim Nelson. “From import duty reduction, deferral, and even elimination—an FTZ designation helps us improve cash flow for our customers, which is especially helpful during this time of economic uncertainty.”
Shoreside Logistics operates 100,000 sq. ft. of warehouse space about five miles from JAXPORT. The company’s administration building, truck maintenance shop, driver facilities and truck parking are located on 14 acres just a couple of miles away from the warehouse. Shoreside has been part of the Jacksonville supply chain since 2002 and its services include drayage, warehousing, consolidation, intermodal transportation, Customs brokerage as well as managing the Customs Examination Station contract for the local U.S. Customs Border Protection. Becoming an FTZ site is a natural fit and a benefit to the Jacksonville community as a whole.
“We are thrilled to welcome Shoreside to JAXPORT’s FTZ,” said JAXPORT Foreign Trade Zone Manager Deborah Lofberg. “The continued growth and success of our FTZ program, including the addition of businesses like Shoreside, helps bring more cargo, jobs, and economic opportunity to our community.”
Using Shoreside as an FTZ also allows importers to file weekly Customs entries instead of each time a shipment enters the country, another significant cost-savings for businesses importing numerous shipments each week.
For more information on Shoreside’s FTZ service, visit: www.shoresidelogistics.com/foreign-trade-zone
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