Caption: Harris County Commissoner Adrian Garcia with port staff.
Port Houston hosted Harris County Precinct 2 Commissioner Adrian Garcia Aug. 30 for a briefing about Foreign Trade Zone no. 84, which is managed by Port Houston.
The program’s history and how it supports regional economic development and jobs was discussed. One of the largest zones in the nation, Port Houston’s FTZ 84 is top in the U.S. for total merchandise received.
There are 250-plus FTZs in the United States. Texas is the most active state in the country with a total of 32 zones. More than 150 companies in the Houston region have utilized and benefited from this program. Most are large exporters and manufacturers, but FTZs also are an effective tool for medium and small companies, helping them save money and grow their businesses.
The main benefits of the program include the ability to defer, eliminate or reduce federal import duties. Therefore, companies that bring goods into the zone may store them or manufacture products free of any federal tariffs until after the merchandise leaves the zone. This creates U.S. jobs and encourages exports.
The total value of cargo in Port Houston’s FTZ 84 is more than $9 billion and that number is expected to grow.