Economic Development
A foreign-trade zone is a geographical area in the U.S. where commercial merchandise gets the same customs treatment it would get if it were outside the commerce of the United States. Located in or adjacent to a U.S. Port of Entry, it is an enclosed, policed area where merchandise may be held without tariffs and other taxes. This tax relief is designed to lower the costs of U.S. operations engaged in international trade to aid economic development.
Here on LawServer you’ll find relevant federal and state laws about economic development, and related legal Questions & Answers.