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The Foreign Trade Zone (FTZ) designation saves money for companies importing goods to New York City.
Companies can save money with an FTZ designation for activities that range from warehousing to repackaging to more intensive manufacturing. The FTZ program gives special status to foreign imports and duty-free status for re-exported items. Industries of all types benefit: construction, food production, fashion and luxury goods, green tech, and pharmaceuticals.
These various FTZ mechanisms may be combined and layered for optimal savings depending on the particular business practices and needs.
All companies are unique. Supply chains and individual business practices vary wildly. The cost of materials, number of units, and individual Customs duties change for each company using an FTZ. The following case studies show simple examples of how hypothetical companies save money with FTZs. Please note, these examples are for reference only and do not represent real company activities.
Case Study #1: A Bicycle Company Saves Money with Inverted Customs Duty Savings
Case Study #2: A Luxury Watch Company Saves Money with Weekly Customs Entries
If you answered "Yes" to these questions, an FTZ may be right for you. Please begin the application process and contact firstname.lastname@example.org.
A company may be designated an FTZ and begin saving money on import duties in just 30 days—faster than ever before.
Additionally, our new FTZ program allows companies to remain in their existing facilities within New York City. It is not necessary to move to a different site. This means that companies who become FTZs do not incur relocation costs and can start receiving FTZ savings as soon as their applications are processed.
To designate a site, a company must file an official application with the FTZ board.
For more information on the FTZ Program, download the FTZ Program Brochure.