Northeast Florida Foreign Trade Zone Expanded: “JaxPort on Wednesday announced the U.S. Department of Commerce and its Foreign Trade Zone Board approved the port authority’s application for a zone that covers Duval, Nassau, Clay, Baker and Columbia counties.
Deborah Lofberg, who oversees the foreign trade zone for JaxPort stated that “the designation is based on showing an industrial site is served by a solid transportation network that can attract a cluster of businesses that import goods.”
Business located in foreign trade zones can either eliminate or defer the custom duties levied when goods are imported into the U.S. The foreign trade zones are aimed at convincing manufacturers and distributors to put their operations in the U.S. rather than overseas.
Here at Boyer Law Firm we have handled many business cases dealing with imports and exports. This trade zone expansion may benefit or even appeal to many businesses. At Boyer Law Firm we will be happy to help you with any issues you have with your business. Please contact us if you have any further questions.
Read more at Jacksonville.com: http://jacksonville.com/business/2011-05-11/story/first-coast-businesses-expect-boost-being-foreign-trade-zone?sms_ss=email&at_xt=4dcb684bae77925d%2C0#ixzz1M9V1zykg