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Posted on:
Sep 06, 2019

Intersect Illinois

We bring new jobs, investment and economic prosperity to Illinois through dynamic partnerships and collaborations with companies, universities, organizations and the government to deliver a unified approach to economic development.

Category: Business

Foreign Trade Zone Benefits

Customs duties are paid only when foreign merchandise is shipped into US Customs territory. Therefore, standing inventory is held in the FTZ subzone/site without duty, often resulting in large savings, particularly during the first year. LEARN MORE

Foreign Trade Zone Benefits

Value added to merchandise in an FTZ subzone/site is not dutiable. Customs duties are not owed on labor, overhead and profit attributed to production operations in the FTZ. LEARN MORE

Foreign Trade Zone Benefits

There is no need to hold product for customs clearance. This often results in a one to three day reduction in the supply chain which benefits not only manufacturers and other end users, but 3PL (third party logistics) providers. LEARN MORE