Foreign-Trade Zone No. 29, with Customs clearance in Louisville, offers a prime opportunity for manufacturing or distribution firms to develop additional U.S. and overseas markets.
The FTZ encompasses the intermodal port site and the industrial park. The Zone includes buildings for manufacturing and warehousing. Break-bulk and containerized shipments can be handled easily. Companies may take advantage of benefits by utilizing the general purpose Zone warehouses or by activating all or a portion of their own building. Companies located in the park have activated over one million square feet of FTZ space.
For an estimate distance, time and cost of moving your product, click here.
The FTZ offers these significant competitive advantages:
- Imports can be landed and stored quickly without full Customs formalities. U.S. quota restrictions, duty and bonding are waived in the Zone.
- Companies do not pay Customs duties on the value of labor, overhead and profit attributed to production operations in a Zone.
- Duty and certain taxes are not paid until goods leave the Zone. If previously imported goods are exported, there is no U.S. Customs Duty or revenue payment.
- Substandard goods, impurities and waste can be discarded resulting in savings on Customs Duty.
- Goods can be imported in excess of U.S. import quotas and then held until the next quota period.
- Goods can be salvaged or repaired free of duty and quotas.
- Certain bonded merchandise may be transferred to the Zone for export.