Onward NRV Attends Foreign Trade Zone Seminar

Samantha Livesay, Senior Director of Business Engagement, recently attended the National Association of Foreign-Trade Zones (NAFTZ) Fundamentals of FTZs course held in Washington D.C. This one-day seminar was a great opportunity for Samantha to continue her learning and understanding of the U.S. Foreign-Trade Zone (FTZ) program. Led by industry experts, the one-day course covered essential topics such as FTZ benefits, the application and activation process, inventory control, and recordkeeping within an FTZ, as well as procedures for admitting and withdrawing merchandise. Samantha found the experience particularly beneficial because of the networking opportunity it provided alongside other grantees, operators, representatives from the FTZ Board, and brokers from third party logistic companies.

Onward NRV is the grantee of Foreign Trade Zone #238. Foreign Trade Zones are secure and enclosed areas located near or in a port of entry. An FTZ is considered to be outside of the U.S. customs territory, meaning that foreign and domestic materials or merchandise may be moved into it without being subjected to U.S. customs duties until the goods have entered into U.S. commerce.

Visit the FTZ#238 website here.

To get more information about FTZ#238 and how it can benefit your business, contact Senior Director of Business Engagement Samantah Livesay at samantha@onwardnrv.org.

Onward NRV: Onward NRV is a public/private, regional economic development organization whose mission is to attract and retain world class jobs, investment, and talent in Virginia’s New River Valley. It’s also a movement where leaders from business, government, and higher education work together to promote the economic vitality of the region.