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A. U.S. Foreign Trade Zone is a government-designated, restricted-access site used as an import/export financial management tool. The FTZ allows foreign and domestic merchandise to be admitted for storage, assembly, processing and manufacture, while reducing or eliminating duty on imports, exports, damaged goods and scrap.
There are two general purpose FTZs in New York City: the Brooklyn Navy Yard and John F. Kennedy International Airport. Sub-zone designation is possible for companies with manufacturing facilities outside the foreign-trade zone area. Companies seeking subzone status must apply for certification from the federal FTZ Board through the NYC Economic Development Corporation.
For information on the FTZ located at the Brooklyn Navy Yard, please visit Warehouse Express USA FTZ .
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