Foreign Trade Zone #114
Greater Peoria is in Foreign Trade Zone 114 which provides over two-million square feet of warehousing and distribution space available for general purpose zone usage. Operating within these zones comes with numerous benefits such as lower duties, cost avoidance, staging and showcasing capabilities, and assembly cost savings. For more details contact Sally Hanley, Director of Foreign-Trade Zone #114 at shanley@greaterpeoriaedc.org
Benefits
What is a Foreign-Trade Zone?
A foreign trade zone is a site or park specifically designated and secured area operating under U.S. Customs supervision. An FTZ is usually located in or near custom ports of entry at industrial parks or terminal warehouse facilitates. Almost any type of goods may be brought in duty for any kind of manipulation.
Public Benefits
- Encourage and facilitate exports
- Help attract offshore activity (imports) and encourage retention of domestic activity
- Allows businesses to continue to employ their workers
- Help create employment opportunities
- Assist state/local economic development efforts
Industries Using Foreign Trade Zones
- Coming soon!
Want to learn more? Contact us.
Sally Hanley
Greater Peoria Economic Development Council
Director of Foreign-Trade Zone #114
C: 309-253-6010
E: shanley@greaterpeoriaedc.org
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