Texas admitted US$5.357 billion in foreign products in fiscal year 2008, tops in the U.S. among general-purpose FTZs
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Texas Tops FTZ Value Tally; The Big Winners; and two more reports.
According to the recently released 70th Annual Report of the Foreign-Trade Zone Board to the U.S. Congress, Alliance Foreign-Trade Zone No. 196 in north Texas admitted US$5.357 billion in foreign products in fiscal year 2008, tops in the U.S. among general-purpose FTZs, and was joined in the top five by fellow Texas zones in Houston and El Paso. The state is home to 31 of the nation's 164 general-purpose FTZs, with half of the top 10 by foreign goods value located there.
According to AllianceTexas developer Hillwood, "in large part due to its role in handling imports, AllianceTexas has had an economic impact of $36.4 billion on the North Texas economy. In addition the development has attracted $6.8 billion in private investment, generated more than $730 million in property taxes and created 28,000 fulltime jobs."
The FTZ board in fiscal 2008 issued 47 formal orders, including approvals for one new general-purpose zone and 20 new subzones. Authority was also granted for the expansion of 10 existing general-purpose zones. Other actions included six expansions of the scope of manufacturing activity, as well as six approvals for new manufacturing activity in zones. "The number of facilities using subzone status during the year was 254," said the report. "The combined value of shipments into general-purpose zones and subzones totaled over $692 billion, compared with $502 billion the previous year. General-purpose sites received nearly $75 billion in merchandise. Total shipments received at subzone sites amounted to over $617 billion."
Over $40 billion worth of exports were shipped from facilities operating under FTZ procedures during fiscal 2008, and total FTZ employment came to approximately 330,000 persons at some 2,500 firms.
Exports from FTZs have grown steadily over the past decade, more than doubling in value since 2002. Vehicles led the way in value of foreign status goods admitted in FTZs, at more than $10.4 billion, followed by petroleum products and consumer electronics.
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