America’s Central Port became a grantee of the FTZ program for the economic development benefits it can bring to companies in our region. Many companies, especially those in manufacturing, import items in order to produce the product that they are looking to export. Duties on imported items are eliminated when they are exported. In some instances, this may be a substantial savings for some small businesses that are looking to get into the export business or to expand their global reach. FTZs also benefit foreign direct investment — BMW Manufacturing invested millions upon millions of dollars in South Carolina and take advantage of FTZ benefits. FTZ grantees, are federally regulated as to the fees they are able to collect and cannot be used as a “profit center.” The website for FTZ31 is www.FTZ31.com. Within the website is a brief overview of the FTZ, our FTZ video and the brochure.
