The ENTIRE State of Rhode Island is designated as a FOREIGN TRADE ZONE.

The entire state of Rhode Island is a FTZ, and companies can take advantage of the numerous benefits in this specially designated area.

A FTZ is a specially-designated area in or adjacent to a U.S. Customs port of entry, that is considered “outside” the customs territory of the United States.

Imported goods can wait in a space where businesses have an opportunity to register their entities and manufactured products. This effectively lowers the import taxation on products as they enter the United States. Certain types of merchandise can be imported into a FTZ without going through formal Customs entry procedures or paying import duties. Customs duties and excise taxes are due only at the time of transfer from the FTZ for U.S. consumption. If the merchandise never enters the U.S. commerce, then no duties or taxes are paid on those items.

Rhode Island's FTZs create a win-win economic scenario, and consist of three different geographic locations that are considered “magnet sites” under the Alternative Site Framework (ASF) regulations. The three magnet sites are:

Among the advantages of a FTZ are the quicker turnaround of ships and planes through the reduction in formalities of customs examinations and also the ability to fabricate, refinish, and store goods freely.