Foreign Trade Zone
GFK's general-purpose Foreign Trade Zone (FTZ) #103 consists of 48 acres located at the Grand Forks International Airport and in the Grand Forks Industrial Park. Both sites are easily accessible by Interstate-29 and US Highway 2.
Within the FTZ, foreign goods are considered to be in international commerce and are not subject to customs duties unless or until they enter the U.S. Additionally, raw materials, parts and components can enter duty-free. FTZ's allow businesses to:
- Bring in product incrementally, thereby preserving cash flow and gaining interest savings.
- Repair, salvage or clean a product for distribution.
- Store and repack merchandise for export or domestic distribution.
- Manufacture product from foreign and/or domestic parts.
Subzones can also be created off of the FTZ and are geographically removed from the general-purpose FTZ if designated for a specific use and user. Subzones are located at the user's private facility and authorized when a firm's operations cannot be accommodated in the immediate physical confines of the general-purpose zone. In 2000, Imation Corporation , a global technology company that manufactures data storage media, first utilized a subzone site sponsored by FTZ #103 for its plant in Wahpeton, North Dakota. The Ag Depot is also a subzone of the GFK FTZ #103, and may offer businesses warehousing and distribution within the FTZ.
More information on the Foreign Trade Zone
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