Opportunities / Foreign Trade Zone

One of the major benefits of establishing the Mid-America Intermodal Authority Port is the creation of a Foreign Trade Zone and Subzones in the tri-states. A Foreign Trade Zone is a powerful tool that allows companies in the region to compete in global export markets.

The benefits of a Foreign Trade Zone include:

  • Exports – Goods imported and stored in a foreign trade zone may be re-exported without incurring U.S. Customs duties.
  • Inverted Customs Duty on Component Parts – Companies can elect to pay the duty rate applicable to either component materials or the finished product manufactured from the component materials, whichever is lower.
  • Waste/Scrap – U.S. Customs duties can be reduced or eliminated on these losses as an acceptable part of the manufacturing process.
  • Weekly Customs Entry – Users can file a single, weekly customs entry, lowering brokerage entry fees and merchandise processing fees paid to Customs.
  • Zone to Zone Transfer – Product imported into a Foreign Trade Zone can later be transferred to another Foreign Trade Zone without entering U.S. commerce and requiring payment of duties.