Foreign Trade Zone # 93

Vance County is part of Foreign Trade Zone (FTZ) # 93.  A FTZ is a secure area in or near a port of entry (sea or air) that is considered outside of US ‘commerce” but is under US Customs supervision.  It provides special customs procedures to US companies engaged in international trade to offset the advantages available to overseas producers competing with domestic industry.

Goods in the zone may be sorted, manipulated, used in manufacturing, inspected, combined with other domestic or foreign materials, displayed for sale, or re-exported to foreign countries without payment of duty.  Companies may take advantage of provisions that allow for the payment of duty fees only as the goods or portion of goods leave the FTZ into the US, thereby reducing impact upon the company’s cash-flow since they do not have to pay the entire duty fee but are paid in increments as portions of the goods are sold and transferred out of the FTZ.

This program and savings are available to companies regardless of size.