Are there free trade zones (FTZ) in Virginia?
Virginia offers six general-purpose FTZs geographically located around the state. Foreign trade zones allow businesses to defer paying U.S. Customs duties on imported goods held within the zones until the goods enter the United States for domestic consumption. No duties are paid if goods are re-exported. Businesses are allowed to store goods within foreign trade zones for an unlimited period of time. They are also allowed to manufacture products within zones and pay duties on either the foreign parts used or on the finished product, whichever is most advantageous to the company. Companies may also request the establishment of a subzone on company property which provides all the benefits just described. To view a map depicting the location of FTZ’s in Virginia on page 13 in the Virginia Guide to Business Incentives click here.
