Foreign-Trade Zone #147 is a regional economic development project that encompasses the counties of Adams, Berks, Dauphin, Cumberland, Franklin, Lancaster, Lebanon, Perry, and York. There are numerous FTZ sites that are strategically located to offer convenient on-site inter-modal transport links for air, road and rail transportation. The Foreign-Trade Zone is operated by the Greater Reading Economic Partnership, and the York County Economic Alliance. The Zone Project is administered by Campbell Trade Group, Inc.
The Foreign-Trade Zones Program was created by the Federal Government in the 1930's, and is an important aspect of U.S. Trade Policy today. Its purpose is to facilitate trade and increase the global competitiveness of U.S. based companies.
Foreign-trade zones are secured areas located in or near U.S. Customs ports of entry, but legally considered to be outside the Customs territory. Certain types of merchandise can be imported into a Zone without going through formal Customs entry procedures or paying import duties.
At the very least, a FTZ offers companies the opportunity to defer payment of Customs duty. More often, the company pays lower costs, not only to U.S. Customs, but to its bank, insurance company, and other vendors.
In a FTZ, merchandise may be assembled, exhibited, manufactured, mixed, processed, relabeled, repackaged, repaired, salvaged, sampled, stored, tested, displayed, and destroyed.
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