Foreign trade zone to grow at Jacksonville's port - Pacific Business News (Honolulu):

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hopes to get more companies in the zone when it received federal permission to bring foreignh trade zones to companies instead of forcing companiess to move within the saidDeborah Lofberg, the authority’sx director of marketing support The new program will make Northeasty Florida more attractive to importers and exporters and allow existin companies to save, she said. Companies can get foreign tradee zone designation in about 30 days instead of several Companies located within 60 milees of the port will be Goods moved through the zone are free of duties and excisr taxes as long as their final destinatioj is outside ofthe U.S.
This will appeall to companies planning to tap into new Asian shipping services. Duties on the goods entering the U.S. are determinef by the product’s highest This can be attractive to companies who assemble withij the zone because they only pay on the finapl product instead of allthe parts. Custom entries can be consolidateds andfiled weekly, as opposed to being filed dailyy as required outside the foreign trade Not only can money be saved by doingh less paperwork, but also the electronic syste used reduces the risk of customs penalties and cargpo being held up.