San Francisco and Oakland, CA - The Port of San Francisco, grantee of Foreign Trade Zone #3, together with The City of Oakland, grantee of Foreign Trade Zone #56, will hold a free half-day forum for parties interested in learning about the benefits of the Foreign Trade Zones (FTZ) program on Tuesday, September 15th, 2015 from 9:00 am to 1:00 pm at the Oakland City Hall City Council Chambers.
The main presenter at the forum will be Wayne Coleman, President and CEO of FTZ Networks, Inc. FTZ Networks operates FTZ #77 site 19 in Memphis, Tennessee in addition to many of its clients’ FTZ sites, while providing consulting and audit services for companies and foreign trade zone grantees nationwide. FTZ Networks’ client services include FTZ cost-benefit analysis, development of strategic plans and marketing initiatives, FTZ application and activation assistance, and overcoming day to day operational issues.
The forum provides attendees with a good understanding of the FTZ program and how it can help businesses better compete in global markets. There is no cost to attend and lunch will be provided.
Topics to be discussed include an overview of the FTZ program, types of companies that can benefit, financial savings opportunities, the application process, and compliance issues.
The Foreign Trade Zones Program was established by Congress in the Foreign Trade Zones Act of 1934. Goods coming into the Zones are considered to be outside of U.S. commerce even though they have physically entered through a Customs Port of Entry. Duties are paid only when the finished product exits the Zone and enters U.S. commerce. FTZs provide the opportunity to defer, reduce and even eliminate duties on imported and re-exported products.
Organizations that may find the forum beneficial include manufacturers, distributors, 3rd party logistic companies, importing and exporting companies, freight forwarders, custom brokers, refineries, city economic development officials and members of economic forums and associations.
“This is an excellent opportunity for local businesses and community leaders to learn how Foreign Trade Zones can help reduce logistics costs and add to a company’s bottom line,” said Peter Dailey, Port Deputy Director for Maritime. “We are bringing in a top expert in the industry to present valuable information and answer questions about the program.”
Margot Prado, FTZ #56 Administrator, City of Oakland, said “We are glad to be working with the Port of San Francisco on this informational forum. As a port city, and one with a resurging demand for space in logistics, warehousing and manufacturing, we understand the benefits of foreign trade zones. Our expansion of FTZ #56 to allow sub-zone sites within sixty miles of the Port, will expand business opportunities throughout the East Bay.”
For more details on the event and how to RSVP, please contact Jim Maloney at the Port of San Francisco at firstname.lastname@example.org.
The Port of San Francisco, an enterprise agency of the City and County of San Francisco, oversees a broad range of commercial, maritime and public access facilities along the City’s waterfront that are held in public trust for the people of California.
The City of Oakland is committed to the delivery of effective, courteous, and responsive services to residents and businesses alike, and as grantee of FTZ #56 seeks to expand, retain and grow local business while providing maximum opportunities for international trade in the greater Oakland metropolitan area.