Stark County has more than 800 acres designated
as Foreign Trade Zone #181. Locating your business in an FTZ
can improve cash flow, reduce, defer or eliminate customs
duties or tariffs, help avoid quota requirements and provide
greater flexibility in the disposition of returned or defective
goods. The location and infrastructure surrounding FTZ #181
make it ideal for manufacturers considering a base for international
distribution.
Foreign Trade Zone benefits include:
• Duty Deferral
No duty is paid while goods are kept in an FTZ. Cash flow
is improved, freeing capital for more important needs.
• Reduced Duty Through Inverted Tarriffs
Duty may be reduced on foreign trade goods if they are incorporated
into a finished product that has a lower duty rate.
• No Duty Paid on Re-exported Goods
If goods are brought into an FTZ, then are later re-exported,
no duty is paid.
• No Duty Paid on Defective Parts, Waste or
Scrap
Goods found to be defective or faulty may be returned for
repair, or they may be destroyed in the zone. No duty is paid.
• No Duty Paid On Domestic Content of Value
Added
The value added to a product while in an FTZ is not included
as part of its dutiable value as a final product leaving the
zone.
• Goods Exempt From State Ad Valorem Taxes
Foreign goods held within an FTZ are not subject to state
or local ad valorem taxes. |