President, IMS Worldwide Inc.
Foreign Trade Zones (FTZ or Zone) are regions, sites, buildings or locations in the United States where companies who are engaged in certain international trade activities are provided with cost, processing, tax and duty payment benefits while being provided the highest trade facilitation services for imported or exported goods. Companies that operate in an FTZ environment are afforded federal incentives that provide a competitive solution that keeps business and jobs-and the associated industrial development in the United States.
For the real estate developer, broker or leasing agent, an FTZ is a huge “incentive.” Both federal and state incentives are given to tenants/owners of buildings with this “license” overlaid onto the land/buildings that are inside an FTZ project. Texas and Arizona specifically add state tax benefits to the half-dozen federal benefits that are included in an FTZ.
The purpose for creating the FTZ program in 1934 was to provide domestic companies and producers with advantages so that they would remain located in the United States and so that those regions who embrace the Zone program would enjoy higher economic growth, accelerated job creation and opportunities for new industrial developments for the Zone users.
Learn how ProLogis, Duke, CenterPoint, Hillwood and many others use this tool to their success. Learn how CBRE and JLL brokers have made huge commissions understanding the subtleties of the FTZ Program, from a 35 year veteran of FTZ consulting, Curtis Spencer of IMS Worldwide Inc. Deploying a strategy that includes FTZ benefits to a site, building or location is a clear advantage for the industrial real estate professional, and the objective of this webinar is to prepare NAIOP members with these strengths and advantages that will result in higher rates of success in industrial leasing and sales.