The total dollar volume of cargo moved through the Port of Tacoma’s Foreign Trade Zone No. 86 has tripled, the port announced. For the U.S. federal government fiscal year 2010 (October 2009 through September 2010), the total dollar value of domestic and foreign status merchandise moved through the Zone totaled more than $1.3 billion, up from about $440 million for the fiscal year 2009.
A foreign trade zone (FTZ) is a specially designed area located within the United States but considered legally outside the U.S. Customs territory. FTZ users are allowed to store, manipulate or add value to goods prior to import or re-export to a foreign country, and can defer, reduce or eliminate payment of U.S. Customs duties. Mazda and Kia were two major users of Tacoma’s FTZ during the 2010 fiscal year, using the zone to process imported autos.
Puget Sound International and Norvanco International also had activated FTZ facilities for the entire fiscal year; PSI provided FTZ services to companies involved in the storage of imported machinery, footwear, furniture and religious items, while Norvanco provided FTZ services to companies involved in the storage of tableware, footwear and fabric totes.
In addition, the Tacoma FTZ sponsored the subzone for Tesoro Refining and Marketing Company’s Anacortes Oil Refinery, for which the total value of domestic and foreign status merchandise that moved through the Zone totaled about an additional $1.35 billion.
In terms of total dollar value of foreign status merchandise being admitted into a Zone, Tacoma’s FTZ ranks third among the 35 West Coast FTZs (behind Long Beach and San Diego) and 18th out of the 272 FTZs in the United States. FTZ #86 includes 19 parcels of land that cover more than 2,250 acres of both port land and privately-owned land.