The US Foreign Trade Zones Board has granted a reorganization to the Piedmont Triad FTZ #230 to operate under the newer Alternative Site Framework.
This new framework will extend FTZ services to all 12 counties of the Piedmont Triad region – Alamance, Caswell, Davidson, Davie, Forsyth, Guilford, Montgomery, Randolph, Rockingham, Stokes, Surry and Yadkin. The extension means that companies in these counties can more quickly access FTZ Status for their exciting facilities.
A foreign trade zone allows companies to defer, decrease or even eliminate duties paid on goods imported to the zone. There are six FTZ’s in North Carolina. The Piedmont Triad FTZ is the first in the state top operate under the new status. Of the 280 FTZ’s in the US, about 65 have converted to this new framework.
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