Foreign Trade Zone
Foreign Trade Zone
The Virginia Port Authority holds the Grant of Authority for Foreign Trade Zone (FTZ) 20, which covers all of Virginia Beach.
An FTZ allows companies engaged in international trade-related activities to securely import, process, and export items, with duty payments deferred until they are brought out of the FTZ and placed for sale in the U.S. market.
What is a Foreign Trade Zone?
Foreign Trade Zones are areas that are geographically inside the U.S., but are legally considered outside its customs territory. Companies that locate in FTZs can benefit by using special procedures to encourage U.S. activity by reducing, eliminating, or delaying duties.
What activities can be done in a Foreign Trade Zone?
Merchandise in a zone can be assembled, cleaned, displayed, destroyed, exhibited, manipulated, manufactured, mixed, processed, relabeled, repackaged, repaired, salvaged, sampled, stored, and tested.
What are the advantages of locating in a Foreign Trade Zone?
Learn more about the Port's Foreign Trade Zone.
Contact Information
Laura Smith
The Port of Virginia
Economic Development Manager/Foreign Trade Zone Administrator
lhsmith@portofvirginia.com
(757) 683-2135