FTZ#238 BENEFITS

LEVEL THE PLAYING FIELD

Compete at a global level by reducing your company’s production, transaction, and logistics-related costs.

BENEFITS OF FTZ#238

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Duty Deferral
  • Avoid paying duties on imported merchandise until goods are removed from the FTZ and enter U.S. commerce
  • Duty on machinery is deferred until it is put into production
  • There is no duty paid on re-exports or scrap
  • Users can pay lower duty rates on goods produced in the zone when the finished product has a lower duty rate than the imported components or parts 
  • Users benefit if they file multiple Customs and Border Protection entries each week
  • FTZ allows the user to file this paperwork once a week at a rate no higher than $485
  • Customs & Border Protection requirements and federal sanctions are deterrents against theft
  • Cargo that is imported into FTZs have fewer incidents of loss and may result in lower insurance costs
  • Merchandise may remain in the zone indefinitely, whether or not it is subject to duty

FOREIGN TRADE ZONE SAVINGS CALCULATOR

Calculator

The U.S. Foreign-Trade Zones Board’s FTZ Savings Calculator is a great way to estimate your company’s potential savings from operating with foreign trade zone status.

DBA Onward New River Valley is the grantee of Foreign Trade Zone (FTZ) #238. Companies located in the 22 county/city service area of FTZ #238 can petition Onward NRV to establish a subzone of FTZ #238 at their facility.

Onward's Website

[av_slideshow_full img_copyright=” size=’featured’ min_height=’0px’ stretch=” control_layout=’av-control-default’ slider_navigation=’av-navigate-arrows av-navigate-dots’ nav_visibility_desktop=” nav_arrow_color=” nav_arrow_bg_color=” nav_dots_color=” nav_dot_active_color=” src=” attachment=” attachment_size=” position=’top left’ repeat=’no-repeat’ attach=’scroll’ img_copyright_font=” av-desktop-font-img_copyright_font=” av-medium-font-img_copyright_font=” av-small-font-img_copyright_font=” av-mini-font-img_copyright_font=” img_copyright_color=” img_copyright_bg=” animation=’slide’ transition_speed=” autoplay=’false’ interval=’5′ img_scale=” img_scale_end=’10’ img_scale_direction=” img_scale_duration=’3′ img_scale_opacity=’1′ conditional_play=” img_scrset=” lazy_loading=’disabled’ alb_description=” id=” custom_class=” template_class=” av_uid=’av-lgv9cfc0′ sc_version=’1.0′] [av_slide_full id=’89’][/av_slide_full] [/av_slideshow_full] [av_hr class=’invisible’ icon_select=’yes’ icon=’ue808′ font=’entypo-fontello’ position=’center’ shadow=’no-shadow’ height=’15’ custom_border=’av-border-thin’ custom_width=’50px’ custom_margin_top=’30px’ custom_margin_bottom=’30px’ custom_border_color=” custom_icon_color=” id=” custom_class=” template_class=” av_uid=’av-lgv9crlp’ sc_version=’1.0′ admin_preview_bg=”] [av_heading heading=’Can you benefit from joining FTZ #238?’ tag=’h3′ style=’blockquote elegant-quote elegant-centered’ subheading_active=” show_icon=” icon=’ue800′ font=’entypo-fontello’ size=” av-desktop-font-size-title=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” subheading_size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” icon_size=” av-desktop-font-size-1=” av-medium-font-size-1=” av-small-font-size-1=” av-mini-font-size-1=” color=” custom_font=” subheading_color=” seperator_color=” icon_color=” margin=” margin_sync=’true’ av-desktop-margin=” av-desktop-margin_sync=’true’ av-medium-margin=” av-medium-margin_sync=’true’ av-small-margin=” av-small-margin_sync=’true’ av-mini-margin=” av-mini-margin_sync=’true’ headline_padding=” headline_padding_sync=’true’ av-desktop-headline_padding=” av-desktop-headline_padding_sync=’true’ av-medium-headline_padding=” av-medium-headline_padding_sync=’true’ av-small-headline_padding=” av-small-headline_padding_sync=’true’ av-mini-headline_padding=” av-mini-headline_padding_sync=’true’ padding=’10’ av-desktop-padding=” av-medium-padding=” av-small-padding=” av-mini-padding=” icon_padding=’10’ av-desktop-icon_padding=” av-medium-icon_padding=” av-small-icon_padding=” av-mini-icon_padding=” link=” link_target=” id=” custom_class=” template_class=” av_uid=’av-lgv9d96u’ sc_version=’1.0′ admin_preview_bg=”][/av_heading] [av_textblock textblock_styling_align=” textblock_styling=” textblock_styling_gap=” textblock_styling_mobile=” size=” av-desktop-font-size=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” font_color=” color=” id=” custom_class=” template_class=” av_uid=’av-lgv9e6y7′ sc_version=’1.0′ admin_preview_bg=”] Foreign Trade Zone #238 is a general purpose zone that enhances your company’s competitiveness—resulting in local jobs and regional investment. By reducing your company’s production, transaction, and logistics-related costs, FTZ #238 levels the playing field and allows for your company to compete at the global level. FTZs accomplish this through:

  • Duty Deferral: Users can avoid paying duties on imported merchandise until the goods are removed from the FTZ and enter in the U.S. commerce. Duty on machinery is deferred until it is put into production; there is no duty paid on re-exports or scrap.
  • Inverted Tariffs/Duty Reduction: FTZ zone users can pay lower duty rates on goods produced in the zone when the finished product has a lower duty rate than the imported components and parts.
  • Weekly Entries: Zone users will benefit if they file multiple Customs and Border Protection entries each week. FTZs allow the user to file this paper work once a week at a rate no higher than $485.
  • No Time Constraints: Merchandise may remain in the zone indefinitely, whether or not it is subject to duty.
  • Customs Compliance: Customs & Border Protection requirements and federal criminal sanctions are deterrents against theft. Cargo that is imported into FTZs have fewer incidents of loss and may result in lower insurance costs.

Foreign Trade Zone Savings Calculator

The U.S. Foreign-Trade Zones Board’s FTZ Savings Calculator is a great way to estimate your company’s potential savings from operating with foreign trade zone status. [/av_textblock]