Foreign Trade Zone
Investigate the Benefits of Nevada’s Foreign Trade Zone
Northern Nevada's Foreign Trade Zone, at nearly 7,500 acres, is one of the largest in the nation. Crossroads Commerce Center currently has over 2,000 acres of Foreign Trade Zone.
A Foreign Trade Zone is designated by the United States Customs Department and allows foreign and domestic merchandise to be admitted for operations such as storage, exhibition, assembly, manufacture and processing without being subject to formal Customs entry procedures, the payment of Customs duties or the payment of federal excise taxes.
With its vast size, the zone includes a variety of large-scale industrial and commercial parks, as well as smaller industrial properties, which makes the area more attractive to current and prospective businesses.
A Foreign Trade Zone area may be a single building, an industrial park, an area of commercial/industrial development, or an existing company’s production facility. There are two types of Foreign Trade Zone (FTZ) authority - “General-Purpose” and “Manufacturing”. Facilities made available for more than one company are considered general-purpose zones (FTZ-126/Sparks, NV.). General Purpose zones provide authority for warehousing and distribution operations only. No manipulation or transformation of the product is allowed. Manufacturing authority allows for the manipulation or transformation of products within a zone operation. An individual firm seeking authorization for manufacturing operations, manipulation and/or transformation of goods, is normally designated as a Subzone site. The Foreign Trade Zone Board authorizes specific areas to be designated as FTZ space. It is then up to the local Customs officials to approve activation of space within the approved physical site.
Merchandise activities permitted in a foreign-trade zone include:
- Assembly
- Re-labeling
- Manipulating
- Salvaging
- Repairing
- Testing
- Re-packing
- Mixing
- Destroying
- Manufacturing
- Sampling
- Displaying
- Cleaning
- Processing
- Re-labeling
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Nevada Foreign Trade Services (NFT)
http://www.griffintransport.com
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info@edawn.org
Calculate your potential savings from the FTZ by using the tool at this site: http://www.mnftz.com/rates/calcbiz.html
