The NAFTZ has just released its annual state-by-state report on “The Impact of Foreign-Trade Zones on the 50 States & Puerto Rico.” This year’s edition is a treasure trove of information about zone activity across the nation, including merchandise received, exports, employment, and number of firms, down to the community level. The report will be an invaluable resource to NAFTZ members to raise awareness of the positive impact of the FTZ program on state and local economic development.
This year’s report is based on data reported by zone grantees to the Foreign-Trade Zones Board for activity in fiscal year 2010, which is the most recent data available. The NAFTZ study makes clear that users of the FTZ program have been contributing more than their share to the economic recovery from the steep 2008-09 recession, with merchandise received in the zones far outpacing the growth of overall economic activity.
FTZ users have also been leading the effort to boost U.S. exports. Exports from FTZs in 2010 grew at a healthy 23 percent clip from the year before, far faster than the 16 percent growth of overall goods exports during the same period. As intended, the FTZ program is making U.S.-based producers more competitive in global markets by lowering the cost of the imported materials and components they need to produce their final products.
For more details, please see links to the study nearby on our web site.