Your company may benefit from foreign-trade zone status if even only one of the following criteria applies:
If you answered yes to any of these questions, the U.S. Foreign-Trade Zone program might be a way for your company to reduce paperwork, improve cash flow, increase flexibility and save time.
The US FTZ program can provide your company with significant cost-savings:
The Foreign Trade Zone Board of the U.S. Department of Commerce oversees the foreign-trade zone program and appoints grantees of the various zones throughout the country. Applications are submitted to the board by the grantee for foreign-trade zone status for specified areas, or on behalf of individual companies in the case of a subzone.
The Port of Cleveland is grantee of FTZ 40, which currently includes 23 sites covering nearly 5,900 acres in Ohio's Cuyahoga, Lorain, Lake and Ashtabula counties.
Northeast Ohio Companies can apply to have their site designated as a FTZ. Once activated, the company will be able to enjoy all the benefits afforded by the program without the need to relocate
ChemJays Global Trade Group in conjunction with its partner Town & Country Property Care have been contracted by the Port of Cleveland to administer FTZ 40.
The Port of Cleveland operates under a fast-track application process called the Alternative Site Framework (ASF). This new application process was approved by the U.S. Foreign-Trade Zones Board in early 2011. It dramatically shortens the time frame under which companies can be approved for FTZ status, from 12 months or more, to just one to two months.
Components of an application include an executive summary, legal authority to apply, site description, operation and financing, economic justification, maps and legal description.
An application is not required for companies locating in a current site within FTZ 40. The company would simply enter into an agreement with the Port of Cleveland for FTZ 40, and the property owner where the site is located.
All expansion applications and requests for boundary modifications in FTZ 40 will be prepared and submitted to the FTZ Board for review and approval.
An expansion application establishes a new site within the zone. A boundary modification application modifies an existing FTZ site or transfers acreage.
Northeast Ohio companies located within FTZ 40 service area can start the process by requesting a free, no-obligation estimate of the benefits they can obtain by participating in the program.
Once the benefits have been evaluated, an application can be processed by ChemJays Global Trade Group and its partner Town & Country Property Care.
Please contact us at:
ChemJays Global Trade Group
Town & Country Property Development Ltd.
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