Foreign Trade Zone
Whitley County is now part of an eight county region in Northeast Indiana that makes up the Foreign Trade Zone (FTZ) #182 serving Adams, Allen, DeKalb, Huntington, Noble, Wabash, Wells and Whitley. A FTZ is a secured place authorized by the federal government, considered to be outside the US Customs territory and is founded on the principal that through making trade easier, the United States can “expedite and encourage foreign commerce.”
This eight county region recently obtained ASF status in the Alternative Support Framework (ASF) program. The ASF program stream lines the application process, reduces cost of entry for participants and provides additional efficiencies. Companies that have interest in International Trade can benefit greatly by activating themselves into the ASF program. Any company located in the eight county region that import or export parts or finished products from foreign countries is eligible.
Benefits for a company utilizing the FTZ status:
- Duty Deferral and Avoidance.
- Taking Advantage of the Tariff Schedule.
- Import Quotas
- “Made in U.S.A.” stamps
- Avoid Drawback Costs and Delays
- Avoid Bonded Warehouse Limitations
- Avoid Certain State and Local Taxes
For more details about Foreign Trade Zone #182 please visit www.bizftz.com