Foreign Trade Zone
In addition to existing cargo facilities and development areas, Richmond International Airport has been designated a Foreign Trade Zone (FTZ), where foreign and domestic merchandise is considered to be in international commerce (not in U.S. Commerce Territory). Foreign merchandise may enter this area without formal Customs entry or the payment of Customs duties or government excise taxes.
Business Opportunities within Foreign Trade Zones
If you import goods in Central or Southern Virginia, you can reduce, defer or even avoid paying tariffs on goods brought into the country with FTZ #207. The potential opportunity exists on and off the airport for international businesses to invest, develop and/or expand current operations.
For more information, refer to the Foreign Trade Zone #207 site or contact the Commission today.