A Boost for Indiana Businesses - Foreign Trade Zones (FTZ) Expansion

Businesses in Northeast Indiana will now have an opportunity to benefit from Foreign-Trade Zones (FTZ).  The U.S. Department of Commerce recently approve the City of Fort Wayne’s application for expansion of Foreign-Trade Zone.  Blackford, Jay LaGrange and Steuben counties will now be allowed to participate in the program. 

Currently Adams, Allen, DeKalb, Huntington, Noble, Wabash, Wells and Whitley counties are part of the program.  The expansion to other northeast counties will provide greater opportunities for businesses to benefit from the program.

FTZs allow U.S. based companies to defer, reduce, or even eliminate Custom duties on products admitted to the zone, and get products through customs using speical customs procedures. 

Foreign-Trade Zones (FTZ) are areas throughout the country that are established to help U.S. companies compete in international trade by making the administrative process of importing/exporting faster, easier and cheaper. 

Learn more about Foreign-Trade Zones

Learn more about the Indiana program by visiting the Indiana BizFTZ website.

Sources:
The Small Business Zone
BizFTZ
Enforcement & Compliance

By Jack Rivers