Port Houston’s Foreign Trade Zone (FTZ) #84 is growing! Get an inside view of the benefits and success stories of the port’s FTZ program here:
A Foreign Trade Zone (FTZ) can be a very beneficial tool for a company involved in foreign trade. It is a designated area in which foreign and domestic merchandise is generally considered by the U.S. government as being outside U.S. Customs territory. Merchandise may be brought into an FTZ without a formal customs entry, import quotas and most other import restrictions. Duties and excise taxes are not assessed until the merchandise enters U.S. commerce.
Port Houston manages Foreign Trade Zone 84, which includes many privately owned and port-owned sites located throughout Houston and Harris County, Texas. The primary benefits come in the form of import duty and tariff savings. For example, customs duties on imported goods entering the zone can be delayed until the cargo is moved out. No duty is paid if the merchandise is exported directly from the zone.
The process of obtaining Foreign Trade Zone status, begins by first contacting the Port Houston Economic Development team. Port Houston assists companies with the application process and can help companies locate consultants with the specialized knowledge for an in depth evaluation of the risks and benefits associated with operating within a Foreign Trade Zone.
To find out more about FTZ 84 and how your business can achieve cost savings, please contact us at: 713-670-2576