Foreign Trade Zone
To reduce your cost of doing business internationally
Who is eligible
A broad range of companies use Foreign Trade Zones (FTZ), including:
- Warehouses and distribution firms
- General manufacturers
- Food processors
- Electronics manufacturers
- And many more
You can participate anytime by contacting David Heyer at firstname.lastname@example.org or 651-259-7468.
Benefits of FTZs
Deferring and reducing duty payments
Inventory kept within an FTZ may be held indefinitely without paying customs duty. Duty is paid only as merchandise is delivered to its market.
Goods may be stored, distributed, or produced while in an FTZ. If a company’s finished product is destined for the U.S., paying a finished product rate can save money.
Saving on processing fees
Import fees can be combined into one weekly entry fee instead of individual Customs entry fees, lowering overall import costs.
Making duty-free exports
Imported goods can be stored and exported without incurring duties.
How it works
The greater Minneapolis-St. Paul metropolitan area has an existing Foreign Trade Zone (FTZ #119) that companies can use. Hennepin County is within the Alternative Site Framework (ASF) service area, meaning businesses within the county can create a subzone at their existing location. A new distribution zone can be approved in as little as 30 days.
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