North Carolina is home to five Foreign Trade Zones, including #214 at the North Carolina Global TransPark, which offers individuals and businesses in a 22-county area the opportunity to import foreign goods and raw materials into a duty-free zone.
Benefits
- Deferral, reduction or elimination of duties
- Goods and materials held in a Foreign Trade Zone are not subject to federal and state ad valorem taxes
- Streamlined customs procedures ("weekly entry" or "direct delivery") that lower total entry fees
- Goods not be subject to United States quotas
- Reduced paperwork
- Lower cargo insurance rates
- Zone-to-zone transfers of goods are not subject to duties
- Substandard or damaged goods can be destroyed before paying duties