WHAT ARE THE BENEFITS OF USING A FOREIGN-TRADE
ZONE?
It is the intent of the U.S. Foreign-Trade Zone
(FTZ) program to stimulate economic growth and development in
the United States. The FTZ program was designed to promote
American Competitiveness by encouraging companies to maintain
and expand their operations in the United States.
When you use an FTZ, if the final product is imported into the
United States, import tax, or duty is due only at the time of transfer
rather than taxing the individual parts, materials or components
of the product.. For companies in
the import/export business, the advantages of using the Sedgwick County FTZ
are many. Tenant companies can:
-
Purchase commodities at world
prices;
-
Enhance cash flow;
-
Achieve major savings in production
equipment;
-
Reduce cargo insurance
costs;
-
Transfer merchandise to other
foreign trade zones without tariff;
-
Discard damaged goods and waste without
duty;
-
Display sample goods for buyers before
duty is paid;
-
Reduce tariffs on foreign components by
combining with American components into a finished product;
-
Store, test, display, manipulate, mix,
process and re-export free of duty or excise tax.
INCREASE YOUR PROFITS
Economic and operational benefits flow to the
company using a foreign-trade zone in the form of lower costs, increased cash flow, better
access to operating capital and improved competitive position. Whether your business is
considering locating in Sedgwick County, or is already here, we encourage you to
investigate the benefits of using our foreign-trade zone. A detailed analysis is available
on a case-by-case basis.
WHY SEDGWICK COUNTY?
Sedgwick County is the most populous county in Kansas, with
close to 450,000 residents. More than 60 percent of general aviation aircraft now flying
in the free world are produced in Sedgwick County. Because of the influence of
aircraft manufacturing, the county offers a highly skilled and highly technologically
advanced employment base.
©, Copyright, 2002 Sedgwick County Economic Development
last update:
02/11/08
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