Foreign trade zones and their economic benefices

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Foreign trade zones and their economic benefices

Statement that applicant is aware that FTZ status would not exempt any site or party e.

Foreign trade zones and their economic benefices

If the Zone project is to be established under the entitlement provision, no fee is required. If the application is deficient, it will be returned to the applicant within 20 days.

If the application is found to be sufficient, then the Board formally files the application, assigns it a docket number, and notifies the applicant. This normally occurs within 45 days of submission. Formal Filing The Foreign-Trade Zones Board publishes public notice of the application in the Federal Register and assigns an examiner an internal staff member to the case.

Public Comment Filing in the Federal Register triggers the public comment period. During the public comment period normally 60 to 90 days interested parties may submit comments to the Board in support of, or in opposition to, the application.

Rebuttal If negative comments are received, then the applicant has up to 15 days after the close of the public comment period during which it may submit rebuttal comments to the Board.

Sometimes public comment periods may be extended in order to allow the various parties to reach a common understanding regarding the issues surrounding the application. Public Hearing The Board arranges for a public hearing, usually in the community where the proposed Zone project is to be established.

Public notice as to the time and place of the public hearing are required. Customs Service having jurisdiction over the area to be served by the proposed Zone project. This normally occurs within days of the close of the public comment period. If the report is favorable, then the application is sent to the Treasury Department and to the office of the Assistant Secretary of Commerce for Import Administration for final review.

Typically, applications that do not involve manufacturing under Zone procedures take from 10 to 12 months for processing and review. Applications that involve manufacturing under Zone procedures typically take 12 months or longer; however, applications that involve FTZ manufacturing authority that meet so-called "fast-track review" procedures may be processed more quickly.The (FTZ) Free Trade Zone is a special area within a country where normal trade barriers like quotas, tariffs are removed and the bureaucratic necessities are narrowed in order to attract new business and foreign investments.

The Application Process When a community determines that a Foreign-Trade Zone project is needed and can be feasibly established and operated, then it must address the Foreign-Trade Zone . Communal business tax (ICC) is a tax levied only on the profits of commercial companies..

International Free Trade Zone | Economy Watch

Its purpose is to help communes finance their expenses and specifically additional costs engendered by businesses established in the commune (provision of industrial zones, parking spaces, special measures to protect the natural environment, etc.).

International Trade Consultant. The Small Business Development Center (SBDC) at UW Oshkosh, in partnership with Greater Oshkosh EDC and other community stakeholders, has hired Shirley Malski as their International Trade Consultant.

Foreign Trade-Zones give U.S. based companies increased global competitiveness by eliminating some of the impediments related to manufacturing or warehousing domestically. Is An FTZ For You? Industries of all types can benefit - construction, food production, fashion, luxury goods, green tech, warehousing, and pharmaceuticals to name a few.

Touting the benefits of Santa Clarita’s Foreign Trade Zone, the region’s economic development entity sponsored a seminar in March for local businesses. A Foreign Trade Zone (FTZ) may allow companies to import or export materials or goods directly into or from the designated zone duty-free.

Canadian Businesses will benefit from Windsor–Essex Foreign Trade Zone Point -