Air, Business, Freight News

Over $10 B in Goods Moved Through Rickenbacker’s FTZ 138 in 2018

[ December 20, 2019   //   ]

Foreign-Trade Zone 138 is growing and so is the global competitiveness of businesses operating within the 25-county zone. According to a recent federal report, $10.4 billion worth of goods moved through warehousing and distribution operations within FTZ 138 in 2018. As a result, Rickenbacker-based FTZ 138 ranks 7 out of 195 active U.S. zones, reflecting an increase of 12.4% over 2017 when it was ranked 9th.

“For seven consecutive years, FTZ 138 has ranked among the top 10 U.S. zones,” said Shannetta Griffin, Chief Commercial Officer of the Columbus Regional Airport Authority, which administers the zone. “In that period the value of goods moving through FTZ 138 increased an impressive 277%, indicating that an increasing number of Central Ohio businesses are taking advantage of the benefits FTZ 138 provides. With current U.S. trade tariffs, it’s an ideal time to do business within the zone.”

FTZ 138 enables companies to increase global competitiveness and profits by lowering costs associated with importing merchandise, including textiles, footwear, pharmaceuticals and electronics. As of today, FTZ 138 has 16 operators at 18 activated sites. Businesses using the FTZ benefit from deferred, reduced or eliminated U.S. Customs import duties; reduced processing fees; quicker movement of goods from the port of entry; supply chain predictability; strong inventory control; and best practice relative to cargo security.