International Trade Programs
Virginia Trade Port
The Virginia TradePort, located at the New River Valley Airport in Dublin, is actually multiple resources in one including a U.S. Customs and Border Protection (CBP) Port of Entry (Port of Entry #1412) and a Foreign Trade Zone (Foreign Trade Zone #238). The Port of Entry, serving a geographic area within 90 miles in all directions from the New River Airport in Pulaski County, and the FTZ, were developed jointly to save time and money for those companies and individuals in the region doing business outside of the United States.).
International Port of Entry (Port of Entry #1412)
A Port of Entry processes goods entering and exiting the United States and enforces customs laws. Foreign goods may be entered for consumption, for warehousing, or for transportation to another port of entry. Goods arriving to the Virginia TradePort in-bond from a different port can be immediately handled, saving an importer considerable time and money (rather than waiting for shipments to clear in more congested ports). The Virginia TradePort has a Customs and Border Protection (CBP) officer on site to provide personal and timely inspection and clearance of imported and exported goods. The CBP officer is authorized to travel to Montgomery County to inspect goods entering or exiting the United States.
Foreign Trade Zone (Foreign Trade Zone #238)
A foreign trade zone is a secure and enclosed area under the supervision of U.S. Customs and Border Protection. It is considered to be outside U.S. customs territory. This allows foreign goods to be brought into the zone without being subject to U.S. customs duties. Goods will remain duty free until the goods enter the U.S. commerce. While goods are in the foreign trade zone they can be stored, inspected, manipulated, processed, relabeled, and repackaged (all while being in a duty free environment). Customs duties are due at the time the goods move outside the foreign trade zone and enter U.S. commerce. If the items are re-exported or destroyed, no duties will be due. If the items are manufactured into a lower duty rate product, then duty can be paid at the lower rate (with approval from the Foreign Trade Zone Board).
Questions? Contact us,
MCDED is here to help.
Montgomery County businesses can leverage a wide variety of programs that support their efforts to sustain and grow their business.
For more information, contact:
Montgomery County, VA
Economic Development Dept.
Call: (540) 382-5732