The Benefits of Locating in a Foreign Trade Zone.What is a Foreign Trade Zone? A foreign trade zone is a location in the United States that is near or at a U.S. Customs port of entry. Every foreign trade zone location is a place where domestic and foreign merchandise is typically considered to be in international commerce. One of the key benefits for a business to relocate to a foreign trade zone is that merchandise within a foreign trade zone may enter the area without a formal Customs entry, or payments of excise taxes or duties. One of the goals of a foreign trade zone is to encourage U.S. competition with foreign products, which is why companies located in a foreign trade zone can take advantage of procedures that allow for delayed, reduced, or elimination of payments for duties on foreign merchandise. |
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Why Move to Islip’s Foreign Trade Zone?
With the Islip Foreign Trade Zone’s proximity to a U.S. Customs port of entry, merchandise can enter the area without the typical payment of duties, excise or formal Customs entry. Avoiding some of the duty payments for foreign merchandise can have a major impact on a company’s bottom line. Most of the common impediments in manufacturing and warehousing domestically are removed within a foreign trade zone.
Is Our Foreign Trade Zone for You?
Common industries that benefit from a Foreign Trade Zone include:
- Construction
- Food Production
- Green Tech
- Luxury Goods
- Warehousing
If your business is engaged in manufacturing, repackaging or warehousing, we look forward to showing you the benefits of working with Islip.
Benefits of Working with the Town of Islip
The Town of Islip, with its Foreign Trade Zone, has a history of helping businesses in multiple industries reduce costs and increase efficiency. Our town is conveniently located near major roadways, railroads and Long Island MacArthur Airport. There is plenty of space to do business as Islip has more than 435,000 square feet of warehouse and office space available. It is an ideal environment for any company looking to be a major player in global trade.
