Foreign Trade Zone
The SCPA operates U.S. Foreign Trade Zone #181 in Stark County, which includes more than 800 acres of general purpose zone and subzone land in Northeast Ohio.
If you serve a global market, operating in FTZ #181 can help you:
- Save on tariffs
- Operate more efficiently
Foreign Trade Zone benefits:
- Deferral, reduction, elimination of duties
- Elimination of drawback
- Labor overhead and profit not calculated in dutiable sale of zone merchandise
- Excise tax reductions
- Zone to zone transfers
- Inventory control and security measures
- Weekly entry for manufacturers
- Direct delivery
Foreign Trade Zone Benefits
Can operating out of FTZ #181 benefit your company? Answer these questions and find out:
- Does your company import?
- Do you eventually export some of your imported product?
- Do you manufacture or process imported items into other items?
- Do you have large amounts of waste or scrap from your imported material?
- Do you import merchandise subject to quotas?
If you answered yes to three or more of these questions, your company would probably save money using a foreign trade zone. The more yes answers you have, the more your profits could increase by using foreign trade zone status. Reach out to Michael Naso for more information 330.453.5900