Foreign Trade Zone, sometimes called a
Free Zone or Free Port, is a safe area
where goods can be landed, stored,
processed, and transshipped, all without
incurring custom duties (import tax).
Trade Zones can provide customers with
manufacturing, assembling, packaging,
and display facilities, all free of
duties. They are considered
outside the customs territory of the
United States in reference to many
factors relating to international trade.
a Foreign Trade Zone encourages and facilitates international commerce.
Foreign Trade Zone recently acquired sub-zone status for Nissan.
may be landed and stored quickly and for an indefinite period without full
Customs formalities and quota restrictions. Plus, duties are not
applicable in the zone.
is not paid until goods leave the zone. If imported goods are then
shipped out of the United Sates, duty payments are not required at
all. And merchandise may be withdrawn partially or in
may be insured while in storage for their value alone, plus ocean freight
costs without additional coverage to include taxes and duties. Goods
may be processed or manufactured in a Foreign Trade Zone to qualify for
lower no no-duty status.
duty may be avoided on faulty materials or goods.
Goods in excess of
quota may be held in the Zone until the next quota period.
bonded merchandise may be transferred to the Zone for export, canceling
the bond or time limit applicable to bonded warehouse, and making possible
immediately recovery of taxes already paid.
on whiskey, wines, and other liquors held for re-export are not applicable
while they are in the Zone. Such materials, once placed in a Zone, are
storage in a Zone may be undertaken to await more favorable market
Mississippi's sub-zones are operated through the Greater Mississippi
Foreign-Trade Zone. Any company in any part of the state with
significant quantities of imports and exports may apply for sub-zone
name of the FTZ is the Greater
Mississippi Foreign-Trade Zone, Inc. No.
158, P. O. Box 820363, Vicksburg, MS
39182 or 1900 Cherry Street, Vicksburg,
MS 39180. The Board of Directors for the
FTZ is made up of five (5) resident
members from Warren County appointed by
the Warren County Board of Supervisors;
five (5) resident members from Jackson,
Mississippi appointed by the Mayor of
Jackson with confirmation from the
Jackson City Council; five (5) resident
members from Lee County appointed by the
Lee County Board of Supervisors; a
member appointed by the Mississippi
Development Authority Executive
Director; the Executive Director of the
Vicksburg Port Commission; the Executive
Director of the Jackson-Evers Municipal
Airport and the President of the
Community Development Foundation.