Medina County Foreign Trade Zone designation approved...read the press release here.

Congress created Foreign Trade Zones (FTZ) in 1934 to facilitate international trade and increase the global competitiveness of U.S.-based companies.  A Foreign Trade Zone is like an island in the sea of international commerce and is considered to be “outside of the United States”.  The program continues to thrive and change to better meet the needs of American companies in the global economy.

The Medina County Board of Commissioners took action to compete in the global economy in November 2004 by joining the Northeast Ohio Trade and Economic Consortium (Neotec) - Neotec is a ten county regional organization that is the Grantee of Foreign Trade Zone #181. The FTZ #181 is an economic development tool that by being coordinated on a regional basis has provided significant value to Northeast Ohio. The constant evolution and pervasiveness of the global economy is driving new interest in the FTZ program. In October 2006 the National Foreign Trade Zone Association (NAFTZ) in Washington, DC granted FTZ status to the four Medina County locations that made application for designation in early 2005.

FTZ Benefits include:

Duty Deferral: Customs duties are paid only when and if merchandise is transferred into the United States Customs territory.
Duty Reduction: If the rate on the items admitted to the zone is higher than the rate applied to the finished product, the company can choose to pay the lower duty rate.
Duty Elimination: No customs duties are paid on merchandise exported from a FTZ. Generally, customs duties are also eliminated for merchandise that is scrapped, wasted, destroyed or consumed in a zone.
Direct Delivery: Companies can apply for authority to receive product, break seals and clear customs within the FTZ facility, thereby bypassing the congestion of seaports.
Weekly Entry: Companies can reduce Merchandise Processing Fees by combining shipments on one entry filed weekly.
Tax Savings: In Ohio, companies that are located within a General Purpose Zone and are activated withing the Foreingn Trade Zone Program, are exempt from state inventory taxes.

Medina County FTZ Locations include:

Brunswick – Geis Park – 67 acres in Brunswick Commerce Center

Seville – Beacon Development – 67 acres on Rt. 3; 24 acres (rail accessible) on Ryan Road

Sharon Center – 45 acres in Portside Corporate Park

Wadsworth – 43 acres in Wadsworth Corporate Park

Contact Bethany Dentler, Executive Director of  the Medina County Economic Development Corporation at 330-722-9215 or via email at bdentler@medinacounty.org for more information.