Foreign Trade Zone (FTZ) at nearby Stewart International Airport
Distributors, manufacturers, and wholesalers based in TechCity can take advantage of the close proximity of the nearby Foreign Trade Zone at Stewart International Airport in Newburgh, just down the Thruway. An FTZ is a secure, enclosed area, operated as a public venture located in or adjacent to a port of entry. The FTZ is considered to be outside the United States for purposes of Customs Duty payments. Mechandise, while in the FTZ, may be stored, manufactured, repacked, exhibited or combined with domestic goods (For example - from the Tenant's TechCity location) to qualify for lower duty, allowing duties to be deferred until the merchandise leaves the FTZ and enters US Territory for domestic consumption. If merchandise (such as semiconductors) is exported to a foreign destination, no Customs Duty is levied.
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