Foreign Trade Zone
The Port of Moses Lake, which operates the Grant County International
Airport, is the Federal Grantee of Foreign Trade Zone #203.
Companies may wish to locate within the existing Foreign Trade Zone or within a sub-zone. There are significant benefits for some companies to locate in a Foreign Trade Zone.
- While in the zone, your goods are not subject to US customs duties or excise taxes.
- By holding your goods in the FTZ for an indefinite period, you can wait for improved market conditions.
- The zone provides 24-hour protection for all your merchandise. Higher security in the FTZ means lower insurance costs.
- Duty is not paid until your goods are imported from the trade zone into the US, so your cash flow is flexible. If your goods are exported from the trade zone, no duty is paid.
- If you combine domestic and foreign goods in an FTZ, duty is paid only on the foreign content of the product imported into the US market.
- Incomplete or improperly marked merchandise may be placed in the FTZ and labeled, with country of origin, to meet US Customs' requirements.
- Goods brought into the country in large quantities may be repackaged and shipped to customers in smaller quantities.
- Your goods may be cleaned, stored, tested, assembled, manipulated (subject to required approvals), or destroyed while in the zone.
- Your goods are readily available at all times and merchandise may be displayed in the FTZ for sampling or purchase.
- Customs procedures are minimal within the zone and you have the opportunity to pay the lowest duty possible on imported goods.
- No duty is paid on valueless waste products of zone operations, and any damaged goods can be salvaged to minimize losses.
This info is current as of June 8th 2005.
- Merchandise under quota restrictions can be stored until quotas are changed or lifted. Quota restricted goods may also be processed in a zone into products not subject to a quota.