Brunswick Landing gets Foreign Trade Zone
Duty-free imports will now be available to businesses at the former Brunswick Naval Air Station with its approval as a Foreign Trade Zone.
A press release from Maine's congressional delegation today announced the designation by the U.S. Department of Commerce's Foreign Trade Zones Board. The FTZ port of entry in Brunswick will be targeted to manufacturers and businesses that process imported raw materials, which can defer payment of duties on items until they are shipped out of the FTZ for sale in the United States.
Currently, Bangor, Madawaska, Belfast, Auburn and Portland are also designated as FTZ ports of entries.
In July 2010, Maine's delegation supported an application for FTZ designation for Brunswick Landing — the new name of the former base property — and in a support letter stated that the designation would allow base redevelopment officials to attract businesses in sectors like composites manufacturing and aviation manufacturing, "that often purchase goods and raw materials from outside of the United States."
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