Muskingum County joins Columbus Regional Airport Authority’s Foreign
Trade Zone
January 11, 2011 - Muskingum County and 24 other central Ohio counties can now offer companies engaged in international commerce enhanced economic benefits and time savings through Foreign-Trade Zone #138.
Recently the federal government granted Columbus Regional Airport Authority’s request for Alternative Site Framework designation, which will allow qualifying companies and sites in the region to be included in the foreign trade zone in a fraction of the time previously required.
Foreign Grade Zone 138, operated by the Columbus Regional Airport Authority, is a federally designated zone considered outside the stream of U.S. Commerce for U.S. Customs purposes. Companies importing goods into foreign trade zones can delay, reduce or eliminate the payment of importation duties. Foreign trade zones create an incentive for imported components to be assembled or manufactured in the United States. Foreign trade zones also allow users to save time and money with consolidated customs entries as the goods exit the foreign trade zone and enter into the stream of U.S. Commerce.
The process for a company to become an active member of the zone under the new Alternative Site Framework is now as little as 30 days compared to the previous process that could take over a year.
“The new Alternative Site Framework designation awarded to the Columbus Regional Airport Authority provides a unique and powerful development tool to Muskingum County and central Ohio,” according to Zanesville-Muskingum County Port Authority Director Mike Jacoby. “Rickenbacker’s air freight services, intermodal rail yards, great interstates, a central location, and now expanded FTZ tools are huge assets to the entire region.”
Foreign-Trade Zone #138 is the first location in Ohio to be approved to take advantage of new federal guidelines that makes it easier for more companies to reap the benefits of being in a foreign-trade zone. For more information click here.