The Dallas Fort Worth International Airport (DFW) Board of Directors has approved a resolution authorizing Hill County, Texas, to join DFW Airport’s Foreign Trade Zone (FTZ) service area. DFW is the official authority of FTZ No. 39, which covers a seven-county service area in North Central Texas. Hill County will be the eighth county to join the zone. FTZs are important to international trade as certain foreign goods within the FTZ can be exempt from Customs duties and certain taxes or defer payments of duties of the goods until they are entered into the market of the United States.
Companies located in an FTZ can take advantage of this designation on raw materials, parts, components, or finished products imported from other countries. This is another advantage of doing business with DFW Airport. Other benefits include being able to eliminate export duties, reduction of certain duties and tariffs, having goods delivered directly to their facilities – allowing for the customs process to happen at their facility, and allowing for weekly entry of goods.
The addition of Hill County will expand the FTZ service area for companies in North Texas and make it a more desirable place to do business. Hill County is the next ring of industrial, residential, and commercial development from Dallas Fort Worth to the north and Waco to the south. The FTZ designation will provide Hill County with another tool in its efforts to continue economic development for the region.
More information on DFW’s FTZ can be found here.
