Foreign Trade Zone (FTZ) 124
FTZ 124 ranks #2 in merchandise received
and #3 in merchandise exported!
Created in the 1930s by the U.S. government, an FTZ is an area within the United States, in or near a U.S. Customs port of entry, where foreign and domestic merchandise is considered to be outside the country. Certain types of merchandise can be imported into a Zone without paying import duties. Customs duties and excise taxes are due when the merchandise is transferred from the FTZ for U.S. consumption. If the merchandise is re-exported, then no duties or taxes are paid on those items.
Merchandise in a zone may be assembled, exhibited, cleaned, manipulated, manufactured, mixed, processed, relabeled, repackaged, repaired, salvaged, sampled, stored, tested, displayed, and destroyed.
Subzones
Two subzones -Globalplex and Castleton Commodities International, LLC- are part of
FTZ’s ALTERNATIVE SITE FRAMEWORK (ASF), which simplifies minor boundary modifications to their designated location.
Activity at U.S. Foreign Trade Zones [2023]
Foreign Trade Zone Board’s 85th ANNUAL REPORT TO CONGRESS [2023]
$949B in
merchandise received
$364B in
warehouse/distribution
$149B in
exports
550,000
jobs supported
Production, defined as an activity involving the substantial transformation of a foreign article or activity involving a change in the condition of the article which results in a change in the customs classification of the article or in its eligibility for entry for consumption, must be specifically authorized by the FTZ Board.
For more information:
- Contact PATTI CROCKETT, VICKIE LEWIS-CLARK, or ALEX HERNANDEZ
- Visit U.S. FOREIGN TRADE ZONES BOARD’s ENFORCEMENT and COMPLIANCE, or
- Click on the links listed below
RESOURCES:
- Why Foreign Trade Zones are Important to the Oil Refining Business in the U.S.
– National Association of Foreign Trade Zones. - Advantages of Foreign Trade Zones
– Miller & Company, P.C. - Foreign Trade Zone Service Providers
- Foreign Trade Zone Savings Analysis Worksheet for Manufacturing / Warehousing / Distribution
– Miller & Company P.C. - Foreign Trade Zone Costs
- Foreign Trade Zone #124 Zone Schedule