A Look Ahead: Worth Repeating Spring 2013
By: Curtis D. Spencer, President, IMS Worldwide, Inc.
Foreign Trade Zone’s Role in Industrial Sales and Development Webinar – December 2012
On why you should use a Foreign Trade Zone (FTZ), “Because today, importers and manufacturers can’t afford to leave $1 million, $250,000 or even $100,000 on the table anymore.”
“In almost no case that I’ve been related to has the developer or landowner been responsible to customs for any kind of issues related to FTZ. It’s not something a landowner, developer or lessor has to worry about in terms of liability.”
In discussing how your development qualifies for FTZ, “Determine if you meet ONE or more of the following: 300,000 feet or more of distribution center space with imports, or $100 million in import value per year, or 1,000 customs entries or more, or you import parts/components and manufacture, assemble or pick and pack.”
“FTZ status is becoming a real factor in speeding up the supply chain, which for many of your customers, is WAY more important than supply chain costs.”
In discussing if the use of an FTZ reduces costs, “The merchandise processing fee savings doesn’t take a year to realize. An FTZ cuts your costs immediately — in the first week. It pays for itself at 250-300 percent ROI in the first year of implementation.”