Kanban can help your company realize the significant cost savings associated with a foreign trade zone (FTZ), while helping you navigate the ins and outs of the FTZ process.
Within Kanban’s North Carolina FTZ warehouse, a product can be stored, assembled, and/or processed with U.S. Customs duties deferred until the product is ready for public consumption. We operate the only activated, general purpose foreign trade zone (FTZ) in Eastern North Carolina – offering 175,000 square feet of modern, climate-controlled storage space with rail siding, and a full service transload yard .
FTZ warehouse case study
A large maker of conveyor belts leverages Kanban’s FTZ services to improve cash flow. Raw materials arrive from Taiwan into the Port of Virginia (Norfolk) and are then shipped to Kanban’s FTZ warehouse, where they are stored until needed at three nearby manufacturing plants. The company avoids payment of customs duties until product leaves the FTZ.
Benefits of North Carolina FTZ warehouse services
- Manage inventory. Kanban can manage inventory, and track and trace orders and product sources.
- Improve cash flow. Legally, the government considers an FTZ warehouse outside of U.S. Customs territory. Customs duty and excise taxes are due only at the time of transfer from the FTZ.
- Speed customs clearance. A summary entry and single processing fee is allowed once per week, reducing fees and paperwork.
- Change product. Sort, clean, repair, assemble, manufacture, exhibit, sell, repack and mix products with foreign and domestic goods. All are allowed within the scope of our North Carolina foreign trade zone.