Foreign Trade Zone expanded in southeastern Wisconsin
The Port of Milwaukee, the grantee of Foreign-Trade Zone 41, has been approved to serve a wider area of southeastern Wisconsin through what is known as an alternative site framework. The decision from the U.S Department of Commerce Foreign-Trade Zone Board provides authority for the Port to provide services to businesses in Dodge, Fond du Lac, Sheboygan, Washington, Ozaukee, Jefferson, Waukesha, Milwaukee, Rock, Walworth, Racine and Kenosha.
This action gives the Port of Milwaukee greater flexibility to provide the advantages of the Foreign-Trade Zone to businesses in the expanded geographical area.
Companies, working through the Port of Milwaukee and its Foreign-Trade Zone 41, benefit by managing the cost and assessment of duties on material and products that are imported or exported. Foreign Trade-Zones are specified places where companies can use special procedures that help encourage U.S. activity and value added – in competition with foreign alternatives – by allowing delayed or reduced duty payments on foreign merchandise, as well as other savings.
“Prominent companies in our region are finding southeastern Wisconsin a more attractive place to do business because of their participation in the Foreign-Trade Zone,” Milwaukee Mayor Tom Barrett said.
“With this decision from the Foreign-Trade Zone Board, the Port of Milwaukee is ready to connect even more companies with the benefits of participating in the Foreign-Trade Zone.”
“Customs and Border Protection is pleased to be a cooperative partner in the recent expansion of Foreign-Trade Zone activity in Southeastern Wisconsin,” Service Port Director William Braun of U.S. Customs & Border Protection said. “FTZ’s are capable of producing great economic benefit and positive impact to both business and the communities in which they reside.”
The Port of Milwaukee is an economic entity of city government governed by the seven-member Board of Harbor Commissioners. It administers operations on the 467 acres that make up the Port. In addition to acting as the grantee of Foreign-Trade Zone 41, the Port adds economic value by connecting area businesses directly with efficient modes of transportation including interstate trucking, rail, and maritime shipping through the Great Lakes, St. Lawrence Seaway, and Mississippi River system.