Trade Zone in Michigan offers savings on activities

Does your company import or export goods regularly? Did you know that utilizing a Foreign-Trade Zone (FTZ) can significantly minimize costs and staff resources? 

The FTZ Act was passed by the U.S. Government in 1939 in order to facilitate international trade and enhance the global competitiveness of U.S. companies. With restricted access, an FTZ is treated by U.S. Customs as if it is located outside the United States. If you import components, assembly and other manufacturing operations can be done in the FTZ, then the company has the option to pay the often less expensive or duty-free finished product duty rate as opposed to the component duty rate. In addition, if a company re-exports the finished product, duty fees are not charged on the component materials. 
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Other potential savings include weekly Customs entries versus transaction fees per entry, avoiding duties on imported materials that become scrap as well as a host of administrative savings and efficiencies.  If your company is paying an average of $485 or more per week in merchandise processing fees, you may want to consider utilizing a FTZ.