LogistiCenterSM at Copperwing is seeking FTZ approval for all users within the park.
El Mirage is a member of the Greater Maricopa Foreign Trade Zone (GMFTZ) and as such, supports the FTZ project underway for the LogistiCenterSM at Copperwing. Once FTZ approval occurs, all users within the project, may operate an FTZ simply by activating their operations with U.S Customs. The FTZ designation and tax support has already been completed by ownership. This will shorten the start-up timeline for “Live Zone operations” by over 50%.
FTZs are areas designated to facilitate and encourage international commerce with opportunities to reduce your cost of operations for companies qualifying for this federal program. The benefits are described below.
Benefits within a FTZ
Property Tax Savings
- Reduce Arizona real and personal/equipment property taxes on investments by as much as 72%.
- Arizona state law allows for any property in a FTZ that is approved and activated to be re-classified down from 18% valuation to 5% valuation.
Reduced Fees/Streamlined Procedures
- Reduced paperwork – Consolidated weekly entry process reduces fees.
- Reduced supply chain time – Faster customer clearance with special direct delivery procedures.
- Lower fees – Reduction can be up to $1 million in savings annually.
- Duty Deferral and Reduction – Duty is paid on end products only when goods enter the U.S.
- Duty Elimination – Foreign merchandise in the FTZ may be re-exported free of duty and federal excise tax. No duty is paid on goods scrapped, wasted or destroyed in a FTZ.
Security
- Activated FTZ operators enjoy the highest level of security. This allows operators to negotiate lower insurance rates.
Source: City of El Mirage, Arizona & City of Goodyear Arizona
Visit www.elmirageaz.gov for more information. To learn about incentives offered by the State of Arizona, visit www.azcommerce.com/incentives.
A Dermody Properties development represented by:
Pat Feeney
Executive Vice President, SIOR
CBRE | Phoenix
T + 1-602-538-3257
pat.feeney@cbre.com
Daniel Calihan
Executive Vice President, SIOR
CBRE | Phoenix
T + 1-602-617-1546
dan.calihan@cbre.com
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