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Foreign Trade Zone to host free seminar

April 7, 2016  |  business, economic development

Foreign Trade Zone to host free seminar

 

If you import or export, this may be relevant to your company

The Clermont County Department of Community & Economic Development is pleased to share information on a free seminar April 13 hosted by the Foreign Trade Zone (FTZ) of Greater Cincinnati. FTZ benefits are available to Clermont County manufacturers who can answer "yes" to the following questions: 

  • Do you manufacture or distribute?
  • Do you import components or raw materials?
  • Is your import volume in excess of $3 million annually or 500 import shipments per year?
  • Are your imports primarily not from a country with which the U.S. has a Free Trade Agreement, such as Mexico or Canada?

If you can answer "yes" to the questions above, please consider attending the upcoming FTZ Briefing & Networking Event.  Details and a registration link are below.

 

Register at: ftz.eventbrite.com

 

Wednesday, April 13, 2016

3 E. 4th Street, First Floor - Learning Center

Cincinnati, OH 45202

Draft Agenda

1-1:30 / Welcome & Introduction to the Port of Greater Cincinnati Development Authority (User Group Meeting in Progress)

1:30-2:15 / Foreign Trade Zone Overview - Officer Robert Ash, CBP (User Group Meeting in Progress)

2:15-2:30 / Break

2:30-4 / FTZ Opportunities and Trade Automation - KPMG

4- 4:30 / Operator Perspective: FESTO Corporation - Samantha Wagner / Q&A

4:30-5:30 / Networking Reception

What are the benefits for Foreign Trade Zones?

  • Deferral of duty until goods are shipped from distribution centers
  • Direct delivery for point of unlading to facilities, speeding Customs and Border Protection (CPB) release 
  • Elimination of duty for re-exports and scrap of imported items
  • Duty reduction (inverted tariff) for goods transformed or manufactured in an FTZ
  • Weekly entry benefits provide savings in two key areas:
    • Merchandise processing fees (MPF) are reduced through the consolidation of all CBP entries to one per week. Maximum MPF payment for one entry is $485.
    • Brokerage fees are reduced with the filing of a single entry per week.

For more information on the Foreign Trade Zone of Greater Cincinnati, please visit the website at www.gcFTZ.com.