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Webinar: What is a Foreign Trade Zone and How might My Company Benefit From It?

When: Friday, November 6, 2020, 8:30am - 9:45am

Where: Webinar

Cost: No Cost for Members

To register click here

The Council of Industry and Orange County will present a webinar November 6th from 8:30 -9:30 to discuss Foreign Trade Zone #37 located in the Hudson Valley.

Created by Congress in the Foreign-Trade Zones Act of 1934, Foreign-Trade Zones continue to thrive to better meet the needs of American companies in the global economy. Foreign-Trade Zones continue to be a vital resource for trade in the United States. Certain types of merchandise can be imported into a Zone without going through formal Customs entry procedures or paying import duties. Customs duties and excise taxes are due only at the time of transfer from the FTZ for U.S. consumption. If the merchandise never enters the U.S. commerce, then no duties or taxes are paid on those items.

Please join us for a presentation on the benefits of Orange County’s Foreign Trade Zone #37, serving the needs of businesses in the entire Hudson Valley region. The Foreign Trade Zone program helps improve competitiveness for manufacturers by deferring, reducing or eliminating duty payments on imported raw materials, component parts, etc. FTZ representatives will outline these benefits and explain how your company can take advantage quickly through a 60-day approval process! 

Liz Whiteman, Senior Analyst, U.S. Foreign-Trade Zones Board - U.S. Department of Commerce, International Trade Administration will discuss the benefits of a Foreign-Trade Zone including:

• Duty Exemption
• Duty Deferral
• Duty Reduction or Inverted Tariff
• Merchandise Processing Fee (MPF) Reduction
• Streamlined Logistics
• Quota Avoidance

For more information on Foreign Trade Zone #37 visit www.orangecountygov.com/562/Foreign-Trade-Zone.

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