Mississippi Benefits From Foreign Trade Zone

Posted by MCC on December 31st, 2008 at 07:29am

Bauhaus USA, H.M. Richards and Lane Furniture officials said that their trade zone approval will help save around 950 jobs in Lee County. The U.S. Department of Commerce announced that the three Mississippi furniture businesses are now a part of the Foreign Trade manufacturing authority.

Manufactures that are a part of the Foreign Trade Zone can save hundreds of thousands of dollars on processing fees and duties when exporting goods or when importing raw materials. Another benefit is that taxes won’t be accessed on these same items. The goal of the Foreign Trade Zone is to aide companies in competing with foreign manufacturers.

Under Furniture News