Foreign Trade Zones are a central piece to the foreign trade in the United States. They help expedite and encourage foreign commerce. This is the unofficial motto for FTZs. The increase of foreign imports and exports help grow the economy. As of 2017, there are over 2,900 US companies located in FTZs. These companies employ over 400,000 American workers. The benefits for businesses range from Duty Deferral to Duty Elimination. These benefits help make US companies more competitive on the international stage.
FTZ impact numbers 2017
The benefits overall for the United States include Job Creation and Retention, Increased Exports and Investment. All of these factors contribute to an increased economic output. The US exported over $85 Billion from the 186 FTZs in 2017.
Leave a Comment