Hamblen County is a member of Foreign Trade Zone 204 out of the Tri-Cities, TN. All of the industrial parks as well as the entirety of Hamblen County and the City of Morristown lie within the zone.
Foreign Trade Zones (FTZ) have grown since their creation by the Foreign Trade Zones Act of 1934. A Foreign Trade Zone is a geographical area where commercial merchandise, both domestic and foreign, receives the same U.S. Customs treatment it would if it were outside the commerce of the United States. Merchandise of every description may be held in the Zone without being subject to Customs duties and other ad valorem taxes.
This tariff and tax relief is designed to lower the costs of U.S.-based operations, engaged in international trade and thereby create and retain the employment and capital investment opportunities that result from those operations.
The FTZ offers importers exclusive benefits that are only available to zone users. These benefits include the reduction or elimination of US Customs duties, the elimination of costly duty drawback programs, drastic reduction of transit times and delays at ocean ports, and an invaluable working relationship with the local Customs office.
A savings analysis can be conducted at no charge for any interested industry.
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