Foreign-trade zones have been in existence for more than 50 years, yet only in the last decade have the zones gained widespread popularity among businesses looking to make their products more competitive. The reason is simple. As foreign trade and worldwide competition increases, foreign-trade zones (FTZs) are creating substantial savings for the companies using them for reducing, deferring and eliminating tariff (duty) payments. Simply stated, an FTZ is a duty-free, quota-free, secure area in a customs port of entry, actually considered to be outside the US Customs territory.
Foreign-Trade Zone 127 is a 108-acre tract within the Columbia Metropolitan Airport complex. The first 40,000 SF facility in FTZ 127 contains multi-tenant warehouse and office spaces. Another 52,000 SF of multi-tenant space is available. One-user facilities can be built within the zone through a negotiated ground lease between the Airport District and either the user or a commercial developer.
The US Customs Services offices, Port of Columbia, are also located in this facility along with several Custom House brokers.
Both foreign and domestics goods can be brought into an FTZ without formal customs entry for assembly, manufacture, display, storage, destruction or other processing. Duty payments are not required until the merchandise leaves the zone for domestic consumption. If exported, no duty payments are made.
For more information on Foreign-Trade Zone 127, please call Lindsay Copelan at 803-822-7838.