The holiday season came on strong for Port Houston’s FTZ program, with six new private and public sites joining FTZ #84 in December. A total of 13 sites were added in 2016.
The December showing led to a 15 percent increase in the total number of sites last month and a 28 percent increase in the zone for all of 2016. It marked the highest volume of new members in the program’s history.
“More companies are realizing the advantage of the foreign trade zone program for both imports and exports and are looking for ways to keep and create jobs and business in the United States,” said Shane Williams, Economic Development and FTZ Program Manager for Port Houston. “The FTZ program is one of the leading programs in accomplishing these goals.”
New sites include Noble Drilling, Kobelco, Floor and Décor, Sun Packing, VoPak, Intercontinental Terminals and Industrial Terminals. Other sites are Palletized Trucking, Pro Agility, Coastal Cargo Care Terminals, Vantage Drilling, Men’s Wearhouse and Trendsetter.
“We have seen a huge increase in authorizations as more companies learn the financial perks of an FTZ. We are thrilled to have these businesses on board in 2017,” added Williams.
Texas is an inventory tax state, so goods can qualify for the additional reduced inventory tax benefit on top of all the federal duty savings. FTZ #84 is comprised of various storage facilities and manufacturing sites located in Harris County, Ford Bend County, Waller County and Brazos County.