Foreign Trade Zone
- The U.S. foreign-trade zone (FTZ) program is designed to promote U.S. jobs and activity by reducing certain trade-related fees.
- An FTZ is a specifically designated location within the United States where special procedures allow deferred, reduced, or eliminated duty payments, reduced merchandise processing fees, and enhanced cash flow.
Last year, over 2,700 firms benefited from FTZ savings. M-PACT offers a free analysis to find out if you can, too. We will provide you with a cost/benefit analysis will provide a realistic picture of how your firm’s import/export operations may benefit from FTZ program.
In addition to projecting annual cost savings, M-PACT can show how an FTZ may help mitigate common scenarios such as seasonal fluctuations in volumes, shifting trade lanes, and exportation of imported goods.
Drawback is a refund of duty paid on imported merchandise that is ultimately exported from the United States. Most importers are not aware of how to take advantage of this program. The US government provides drawback refunds as a way to help US companies compete in foreign markets by eliminating costs. There are several types of drawback but the most common two are “manufacturing drawback” and “unused merchandise drawback.” If you think your company might benefit from this program, call M-PACT.