WARREN, MICHIGAN - When companies need to move products from overseas, they count on Technology Ventures Inc. in Warren, Michigan. The company, operating as TVI Logistics, provides order fulfillment, light assembly, packaging, global distribution and freight management services. TVI Logistics is a public Foreign Trade Zone, giving it the flexibility to bring in a variety of commodities at reduced costs.
Located near companies that service both government and industry, TVI's clients include the US Army, NASA, US Department of Energy, US Department of Interior, US Navy, US Coast Guard, and more. This area has a busy hub for the Defense industry with easy access to I–75, I–696 and I–96. TVI is well known for light assembly and reducing Custom duties for clients and is now serving the automotive sector.
As a Foreign Trade Zone, it can defer, minimize or eliminate customs duties and taxes based on operations performed in the zone. By storing imported goods in the zone, for example, duties and taxes can be deferred since they are not due until the goods leave the zone and enter US commerce.
“Foreign Trade Zones were created in the 1930s to offset the effects of tariffs and keep assembly jobs in the United States,” said Axel Cooley, Director at TVI Logistics.
“While it sounds like a service strictly for large corporations, any size business could benefit from a public Foreign Trade Zone if the import goods from another country,” Cooley said.
For example, Cooley said, a small design firm could have a client who ordered a one-of-a-kind chandelier from Italy. The chandelier is shipped to TVI and inspected when it arrives to determine if there is a manufacturing defect. Since the inspection is done inside the foreign trade zone, the product can be sent back to the country of origin before duty fees are collected, does eliminating the need for a second duty charge when a new one is sent.
"Top designers work with us from all over the nation, "said Cooley.
However, Foreign Trade Zone often involves more than just moving goods into the country. By assembling individual components in the zone to create finished goods, companies can see substantial savings.
"Logistics applies to everyb
ody regardless of industry," said Cooley. There are real cost savings with the logistics side and TVI can help with that. TVI President Constance Blair started the company in 1992 using her military experience in logistics at the Pentagon to help customers in Michigan. The company is a certified Woman/Minority/Service Disabled Veteran owned enterprise.
TVI also offers locations for foreign companies trying to break into the US market. Cooley said that often foreign companies can't get a contract without a US physical presence and they don't want to set up a presence until they have locked in a contract. TVI offers an affordable solution with its foreign trade zone to defer duties, warehouse space and manage inventory.
"We are always looking for ways to reduce cost for our clients, "said Cooley.
Connect. Import/export seminars for small, medium and large businesses hosted by TVI Logistics. Call 586-563-8000 or email Axel Cooley at email@example.com