News & Updates
FTZ #25 at Port Everglades Makes Approvals Fast and Easy
BROWARD COUNTY, FL — Foreign-Trade Zone (FTZ) #25 at Port Everglades is helping Broward County businesses gain Zone status faster as part of the national “Alternative Site Framework” program.
Recently the U.S. Department of Commerce’s Foreign-Trade Zone Board (FTZB) approved an application for FTZ #25 at Port Everglades to operate under its Alternative Site Framework (ASF). This authorization speeds the FTZ approval process by eliminating temporary minor boundary modifications, acreage re-designation, and other minor procedures that take time to process under the Traditional Site Framework.
“Our FTZ is unique because we act as a liaison between the users and CBP, eliminating barriers of entry for new FTZ users,” said Jorge Hernández, Port Everglades Director of Business Administration. “The Alternative Site Framework bolsters Broward County’s plans to maintain an adequate supply of available FTZ-designated space for potential new growth.”
FTZ #25 acts as a Grantee/Operator for business owners throughout Broward County who want to save money and/or manage cash flow on U.S. Customs and Border Protection (CBP) fees and duties. In addition, FTZ #25 Operations utilizes software to submit inventory transactions directly to CBP and has staff available to handle the processing as a convenient one-stop shop.
An FTZ is a secured, designated U.S. location where companies can use special procedures to encourage U.S. economic activity and provide added value—in competition with foreign alternatives—by allowing duty-free, delayed, deferred or reduced duty payments on foreign merchandise, as well as other savings.
FTZ #25 at Port Everglades is fourth in the United States for warehousing and distribution with $6.1 billion in total activity (according to the latest information available in calendar year 2017).
About Port Everglades
As one of Florida’s leading economic powerhouses, Broward County’s Port Everglades is the gateway for international trade and cruise vacations. Consistently ranked among the top three busiest cruise ports in the world, Port Everglades is also one of the nation’s leading container ports and South Florida’s main seaport for receiving petroleum products including gasoline, jet fuel and alternative fuels. The Port Everglades Department is a self-supporting Enterprise Fund of Broward County, Florida government with operating revenues of almost $168 million in Fiscal Year 2018( October 1, 2017 through September 30, 2018). It does not rely on local tax dollars for operations. The total value of economic activity related to Port Everglades is more than $30 billion. More than 230,000 Florida jobs are impacted by the Port, including over 13,000 people who work for companies that provide direct services to Port Everglades. For more information on Port Everglades, visit porteverglades.net or e-mail PortEverglades@broward.org .
DATE: January 11, 2019
MEDIA CONTACT: Ellen Kennedy, Port Everglades