Foreign Trade Zone (FTZ)
A Foreign Trade Zone (FTZ) is a designated site considered outside of U.S. Customs territory for specific purposes. Typically FTZ's are located within the warehousing or manufacturing facilities of organizations seeking FTZ advantages. Merchandise may be brought into an FTZ and stored or processed there without being subject to the customs laws of the United States. FTZ designation is granted through the approval of the FTZ Board, which is chaired by the U.S. Secretary of Commerce, and oversight of the zone operations is the responsibility of U.S. Customs & Border Protection (CBP).
Located in or near CBP ports of entry, FTZ’s are the United States’ version of what are known internationally as free-trade zones. The intent of the FTZ program is to stimulate economic growth and development in the United States in an expanding global marketplace with increased competition among nations for jobs, industry and capital. The FTZ program was designed to promote American competitiveness by encouraging companies to maintain and expand their operations in the United States.
Please read about the savings and benefits available through Port Milwaukee's FTZ program here.