Port Houston hosted industry professionals at its 2018 Foreign Trade Zone conference Dec. 6. The informational event provided beneficial communication and networking opportunities to current FTZ users and providers.
Port Houston manages Foreign Trade Zone 84, which includes many privately owned and public sites located throughout the Houston region and surrounding counties. The zone is a location where tariffs, customs and duties are deferred. The total FTZ 84 area includes more than 12,000 acres. 3,000 acres are for public use.
“FTZ is a great opportunity to attract business,” said Michael Leightman, partner with Ernest and Young, who participated during the event. FTZs help encourage activity and value-added at U.S. facilities.
Camille Evans, Senior Analyst with the U.S. Foreign Trade Zones Board in Washington, D.C., and the Houston Customs and Border Protection office shared updates.Importers are attracted to the benefits that streamline, reduce or eliminate import duties. Benefits also include merchandise storage, product handling, manufacturing and exhibiting. Port Houston’s FTZ is also ranked no. 1 in the United States for total merchandise received.