The Foreign Trade Zone (FTZ) was created to enhance U.S. production and job opportunities by allowing companies to defer, reduce and/or eliminate placement of U.S. Customs duties depending on the range of activities to be conducted in the zone. Simplify and reduce the cost of formal custom entry procedures.
The zone expedites the movement of goods to and from zone sites. Additional benefits may apply to goods subject to federal excise tax and imported production equipment for use in the zone. Lakeland/Polk companies are in the service area of FTZ 79. Qualified companies can obtain FTZ designation by applying to the U.S. Foreign Trade Zones Board for usage driven site designation. The Grantee of FTZ 79 is the City of Tampa.