The FTZ program was established in 1934 to help US companies compete around the world by eliminating, deferring, or reducing duties and fees. In today's global economy, FTZ's continue to play a significant role in keeping US companies competitive by streamlining importing and exporting activities and reducing overall costs. Port Lansing was approved to open Foreign Trade Zone (FTZ) No.275 in August, 2009.
FTZ No. 275 Service Area
FTZ’s are designated areas within the United States, in or near a U.S. Customs port-of-entry, where foreign and domestic merchandise is considered to be outside the country, or at least outside of U.S. Customs territory.
In 2011, there were 171 active FTZ's with a total of 269 active manufacturing/ production operations.
The value of shipments into zones totaled over $640 billion, compared with $534 billion in 2010.
About 57% of the shipments received at zones involved domestic status merchandise. The level of domestic status inputs used by FTZ operations indicates that FTZ activity tends to involve domestic operations that combine foreign inputs with significant domestic inputs.
FTZ No. 275’s General Purpose Zone (GPZ), located near the airport terminal, allows companies to benefit from the FTZ program quickly and affordably. GPZ’s leverage experienced FTZ operators to perform key compliance and logistics functions and helps reduce your company’s overall logistics expenses. Take direct delivery of your imported (and/or domestic) products, reducing delays at large hubs that may take days to clear customs. FTZ No. 275 can improve overall lead times and localize your customs clearance process, which helps cash flow and operational efficiencies.
There are several benefits to utilizing the FTZ program. Participating companies benefit in different ways, depending on a wide variety of factors.
Major FTZ Benefits Include: