Foreign trade zone
The Toledo-Lucas County Port Authority has been the grantee of Foreign Trade Zone 8 since 1971, and has recently been approved for the reorganization and expansion of the zone under the Alternative Site Framework (ASF). The ASF is an optional approach to designation and management of zone sites allowing greater flexibility and responsiveness that expands the reach of the Foreign-Trade Zone (FTZ) to a large service area in Ohio. Companies that have a need for FTZ designation will no longer have to wait for the traditional process of request, review and approval for zone use. Qualified users now may enjoy FTZ benefits in as little as 90 days.
What is a Foreign-Trade Zone?
The Foreign-Trade Zone (FTZ) Program is a trade program designed to offer certain specific benefits to the users and each potential user in analyzing the relevant facts and circumstances to determine and to quantify the potential benefits of operating or using an FTZ.
Foreign-Trade Zones are organized as general-purpose zones or as subzones. General-purpose zones are organized using public utility principles and serve multiple users. Subzones are adjuncts to general-purpose zones organized to serve only one user.
Foreign-Trade Zones are secured areas located in or near U.S. Customs Ports of Entry, but legally considered to be outside the Customs territory.
In a Foreign-Trade Zone, merchandise may be assembled, exhibited, manufactured, mixed, processed, relabeled, repackaged, repaired, salvaged, sampled, stored, tested, displayed, and destroyed.
What are the benefits of using the program?
The fundamental benefits offered by the FTZ program are the ability to defer, reduce or even eliminate U.S. Customs duties on products admitted to the zone.
Counties within FTZ #8:
