Foreign Trade Zone 28
An FTZ is a designated area that, for Customs purposes, is considered outside the U.S. Nearly any imported merchandise can be brought into the FTZ for almost any kind of manipulation duty-free, unless it enters the U.S. market. Goods in the FTZ can be assembled, manufactured or processed and final products re-exported without paying Customs duties. If the final products enter the U.S., the duty rate may be lower than the duty applicable to the product itself or its parts.
The City of New Bedford is the grantee and holder of Foreign Trade Zone (FTZ) #28 offering a competitive advantage to foreign businesses looking to trade in US markets. The Port, Regional Airport, and adjacent areas form the New Bedford FTZ #28, which provides duty-free manufacturing opportunities for importers and exporters.
FTZ #28 is able to sponsor expanded general purpose sites within a 60-mile radius of the City. In addition, the FTZ has the potential to sponsor qualified subzones anywhere in Massachusetts. By establishing a subzone international businesses can reduce operational costs by categorizing imports and exports so that goods are taxed at the least cumbersome stage in the chain of distribution.
New Bedford offers international distribution services that support the FTZ including sea, air, and rail services, as well as interstate highway systems. Further, New Bedford shipping agencies, freight forwarding and stevedore services, and warehouse and truck-brokering facilities are great resources to support foreign business and labor needs.
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