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Fort Lauderdale, FL – Phil Purcell, Executive Director of the Marine Industry Association of South Florida (MIASF), announced today that MIASF received approval from the Foreign Trade Zone (FTZ) Board and City of Fort Lauderdale FTZ No. 241 for a 16-site FTZ marine industry subzone, which is a group of sites established for a specific use. Once established, each of the 16 sites included in this special purpose subzone will operate as a commercial marina, a marine parts and components business, or a yacht repair facility. FTZ restricted-access sites are considered to be outside the U.S. Customs territory, and as such, can defer, reduce, or eliminate Customs duties on foreign products.
“This is a first of its kind in the United States,” Purcell said. “Fort Lauderdale is already known as the yachting capital of the world and will now be known for introducing the first FTZ subzone dedicated to the recreational boating industry,” Purcell added.
As a leading economic engine that contributes $8.8 billion to our area, the success of the marine industry is directly tied to the long-term growth, development, and prosperity of Fort Lauderdale,” said Mayor John P. “Jack” Seiler. Providing economic incentives through our Foreign Trade Zone program will enable marine industry businesses to free up important resources that can be used to expand operations, increase revenue, and create additional jobs and career opportunities for our community, while also serving as a valuable tool for future business attraction and retention.”
“Strengthening our marine industry by creating an environment that will encourage more business is the key reason to pursue Foreign Trade Zone activity,” said Karen Reese, FTZ Administrator for the City of Fort Lauderdale’s FTZ No. 241. “The City expects to continue expanding the marine industry business through FTZs.”
“Now that the initial filing for FTZ status has been approved, we are excited to begin working with each marina or marine distributor site to activate in compliance with U.S. Customs and Border Protection regulations,” said Gary Goldfarb, Chief Strategy Officer of Interport Group of Companies. “This is a monumental achievement for the City of Fort Lauderdale, the marine industry, and the community as a whole. There are so many more options for the industry under a FTZ and, as a result, we expect this will be a very active sector for jobs for years to come,” Goldfarb added.
About Marine Industry Association of South Florida
The Marine Industries Association of South Florida (MIASF) is the largest trade organization in the Southeast United States dedicated to promoting, protecting, and growing the 110,000 middle class jobs in Broward County and 136,000 jobs regionally in marine businesses promoting boating lifestyles from family cruising and fishing to yachts and the goods and services that sustain them, driving the economic output to $8.8 billion in Broward County and $11.5 billion regionally. Created in 1961, the not-for-profit trade group is focused on the sound growth of the marine industry in the South Florida Region to benefit its members, their customers, communities and the environment. The Association has over 500 members in Broward, Miami-Dade, and Palm Beach Counties and is the owner of the Fort Lauderdale International Boat Show.
About Fort Lauderdale Executive Airport
Fort Lauderdale Executive Airport is one of the nation’s busiest general aviation airports handling close to 160,000 aircraft operations per year. The airport is home to more than 900 aircraft along with four full-service, fixed-base operators, a 24-hour Federal Aviation Administration Air Traffic Control Tower, an onsite U.S. Customs and Border Protection facility, a 24-hour aircraft rescue and firefighting station, a Fort Lauderdale police substation, and 24-hour security. FXE also operates a 200-acre Industrial Airpark, the City’s Foreign-Trade Zone #241, and the downtown Fort Lauderdale John Fuhrer Helistop.
About Interport Group of Companies
Interport Group of Companies, which is headquartered in Miami, FL, is a full-service supply chain management company, providing consulting, FTZ operations, warehousing, freight forwarding, customs brokerage, and technology development for more than 15 years.
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