If you do business in Mercer County, you may not know it, but you are in a Foreign Trade Zone. But what does that mean? In short, it’s an area specially designated by the U.S. Department of Commerce to encourage foreign trade: you can import merchandise for manufacturing or assembling goods duty free, as long as the products are sold outside the U.S.
Anyone in the business of importing products from international market can attend a free seminar regarding the Mercer County Foreign Trade Zone on Thursday, December 6, from 8 to 10 a.m. at the Boathouse at Mercer Lake, Mercer County Park in West Windsor. For more information or to register, contact Mercer County Business Advocate Darren Stewart at 609-989-6912 or firstname.lastname@example.org.
The program will feature presentations from Kathleen Boyce, a foreign trade zone board official in the International Trade Administration office of the U.S. Department of Commerce, along with Mercer County representatives who will discuss the FTZ.
“The Mercer County FTZ provides a unique opportunity for Mercer County businesses or those interested in relocating here to reduce costs and increase profit margins,” Mercer County Executive Brian Hughes said.
Located throughout Mercer County, the Mercer FTZ allows companies to achieve duty deferral, reduction and/or elimination on products that they purchase overseas.