Application incentive available for Brevard businesses for calendar year 2021
The Canaveral Port Authority announced today it will waive the standard application fee for businesses located in Brevard County seeking to establish a designated usage driven site within Port Canaveral’s Foreign Trade Zone (FTZ) #136. The fee waiver is effective immediately and will be available to applicants through December 31, 2021.
Port Canaveral is the grantee for FTZ #136, which encompasses all of Brevard County. Brevard County companies importing, finishing and exporting products may benefit from cost saving advantages as a designated site in FTZ #136, including expedited customs clearance and lower fees, inverted tariff relief and the ability to change or alter products quickly.
“Companies operating in our Foreign Trade Zone have been able to realize operational efficiencies and cost savings to achieve competitive advantages in the global marketplace,” said Port CEO Capt. John Murray. “We’re proud of our partners at American Cruise Aid Logistics, Seaport Canaveral and Airbus OneWeb Satellites, who have furthered their success as FTZ #136 operators.”
FTZ Cost Saving Advantages and Benefits Include:
- Duties are only due upon entry for U.S. consumption
- Defer the payment of duties while merchandise is stored in your site
- Reduce duties on merchandise assembled or manufactured into finished products / Relief from inverted tariffs
- Re-export goods duty-free
- Unlimited storage period / Duty free storage
- Goods may be manufactured, cleaned, destroyed, sorted and/or assembled
- No duty on rejected or defected parts or waste.
- Reduced processing times
Foreign Trade Zone No. 136 was established in 1987 by the U.S. Foreign-Trade Zones Board of the U.S. Department of Commerce with the CPA functioning as the Grantee. The U.S. Foreign-Trade Zones program has proven to be a successful trade program by consistently creating and retaining jobs and capital investment in the United States.
For more information, go to https://www.portcanaveral.com/Cargo/FTZ-136 or contact CPA’s Grantee representative, Jennifer Simmons at 321-783-7831 ext. 253.