NE Indiana Foreign-Trade Zone Grows
FORT WAYNE -
The U.S. Department of Commerce has approved an application to add Randolph County to the Northeast Indiana Foreign-Trade Zone. The designation means all 92 Indiana counties are now part of an FTZ service area.
The approval will allow Randolph County businesses to take advantage of reduced U.S. Customs expenses on imported or exported goods. Foreign-Trade Zone 182's service area also includes Adams, Allen, Blackford, DeKalb, Huntington, Noble, LaGrange, Steuben, Wabash, Wells and Whitley counties.
The city of Fort Wayne submitted the application for Randolph County. Mayor Tom Henry says the move will "help boost economic development efforts and allow more businesses to maximize opportunities to promote growth for international businesses." In addition to reduced or eliminated customs duties, the designation allows foreign and domestic merchandise to come to the United States for operations including storage, manufacture and exhibition without having to go through formal customs entry procedures.