FedEx Logistics Opens Foreign Trade Zone in El Paso, Texas
September 03 2020 - 11:00AM
Business Wire
Customers benefit from duty and tax incentives
and a portfolio of logistics solutions
FedEx Logistics, a subsidiary of FedEx Corp. (NYSE: FDX),
announced the opening of another Foreign Trade Zone (FTZ) location
in El Paso, Texas, U.S. The site in El Paso is the latest FTZ
facility to be opened by FedEx Logistics in addition to existing
locations in Los Angeles, New York, Dallas and Chicago. These
facilities enable importers and exporters shipping goods into the
U.S. to benefit from a wide range of duty and tax incentives while
reducing costs, reducing inefficiencies and satisfying warehousing
and logistics needs in one convenient location.
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“This new Foreign Trade Zone’s business-friendly regulations and
first-class logistics infrastructure can give our customers the
edge they need to succeed in the competitive global market,” said
Udo Lange, President and CEO of FedEx Logistics. “Trade is the
lifeblood of the global economy, so FedEx Logistics is delighted to
give businesses another way to tap into suppliers and markets — and
ultimately, new sources of revenue and growth — all over the
world.”
El Paso is a key gateway in and out of Mexico because of its
strategic location on the U.S./Mexico border. By complementing its
full range of freight forwarding capabilities with FTZ services,
FedEx Logistics is providing customers with the solutions they need
to grow their businesses in the area. The City of El Paso, one of
the largest metro areas along the border, has the added advantage
of a well-developed infrastructure, which enables industries to
efficiently move goods.
A Foreign Trade Zone is a secure, controlled area located in the
U.S. that is treated as if it is located outside the country for
customs-entry purposes. FTZs give customers many ways to defer,
reduce or avoid customs duties and merchandise-processing fees. The
sites can be used to streamline the international movement of raw
materials and components and to manufacture or assemble
higher-value products that incur lower tariffs — among many other
benefits.
FedEx Logistics FTZ Services offer inventory tracking, quality
control, security, and cross-docking and transferring of goods.
Click here for more information.
FedEx plays a critical role in expanding global trade, helping
to build nimble supply chains and delivering local products and
services to customers around the world.
About FedEx Logistics
FedEx Logistics plays a key role within the FedEx portfolio,
connecting 99% of the world’s gross domestic product (GDP) with its
comprehensive suite of specialty logistics solutions. The company
provides air and ocean freight forwarding, supply chain solutions,
customs brokerage, and trade management tools and data from a
single trusted source. For more information, visit
fedex.com/logistics.
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version on businesswire.com: https://www.businesswire.com/news/home/20200903005556/en/
James Calderwood Sr. Communications Specialist FedEx Logistics
+1.901.529.6006 james.calderwood@fedex.com
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