Foreign-Trade Zone #255 Nearly 1,700 acres of prime industrial / commercial properties are located within the Washington County, Maryland Foreign-Trade Zone (FTZ). Buildings and sites are available for development with an array of amenities including:
- Airport runway access
- Superior interstate visibility
- Municipal water and sewer, and natural gas.
What is a Foreign-Trade Zone?
- FTZs are sites designated by the U. S. Foreign-Trade Zones Board in which special United States Customs Service procedures may be used. These procedures allow domestic activity involving foreign material to take place prior to formal Customs entry. Duty-free treatment is accorded items that are re-exported and duty payment is deferred on items sold in the U.S. market.
A Few FTZ Benefits...
- Imports may enter and be held in a FTZ without payment of duties.
- Duty is paid only when those imports are shipped into U.S. Customs territory.
- Customs duties are not paid on merchandise re-exported from a FTZ.
- Duties are not owed on labor, overhead or profit attributed to FTZ production operations.
- FTZ users can pay the duty rate on component material or merchandising produced from component material, whichever is lower.
- No duty is owed on in-bound zone-to-zone transfer of FTZ merchandise.
- Tangible personal property held in an FTZ for export is not subject to state and local taxes and ad valorem taxes.
- Materials used/consumed in FTZ processing are generally not subject to duties.
Site 1 - Fort Ritchie at Cascade 279 acres being developed as a mixed-use business park at the former Fort Ritchie Military Base
Site 2 - Airport 387 acres at the Hagerstown Regional Airport coupled with 65 acres adjacent to the airfield
Site 4 - Hopewell Valley 470 acres comprised of in the Hunter’s Green Business Center I, II, and the Newgate Industrial Park, near the intersection of Interstates 70 and 81
Site 6 - Williamsport 140 acres located at the Interstate Industrial Park complex
Site 7 - Hancock 128 acres located in the Hancock Enterprise Zone adjacent to the intersection of Interstates 68 and 70