The Foreign Trade Zone Program over the past 50 years has experienced steady growth positively impacting the international trade industry. Although, the turn of the century and inception of the popular Weekly Entry Program jolted the FTZ Program into fourth gear with exponential growth over the past 20 years. The utilization of automation further cemented its growing presence in the International Trade Industry.
Coincidentally, 20 years ago was also the birth of ITC-Diligence. ITC-Diligence brought experience and expertise to the marketplace, which offered a true grass roots concept in Southern California. ITC quickly spread, as did the FTZ Program across the nation and is humbled to represent the industry in nearly 20 different states including Puerto Rico.
Over the past 85 years, the FTZ Program has multiplied with the expansion of trade around the world offering advantages to manufacturers and distributors in nearly all industries. The FTZ Program, as many programs, evolved with the inception of the ASF, E-214, and implementation of ACE growing access and incentives nationwide. ITC-Diligence has experienced similar growth to its services to accommodate the industry. ITC established its brokerage division in 2005 as a value-added service. Over the past 5 years ITC has grown its team of professionals, added quality control measures through technology, and most importantly valued its customers and supply chain partners.
As the FTZ Program provides alternative solutions to tariff roadblocks, supply chain disruptions, and the next undiscovered crisis, ITC looks forward to partnering with our clients and network of industry professionals to offer a new value-added service desperately needed in this ever-changing global economy. ITC is excited to begin a new chapter with an expanding service division called “Supply Chain Solutions.” An extension of our expertise will now include Supply Chain Evaluation and Utilization, Transportation Solutions (air, sea, road, and rail), Compliance Services, and Cost-saving solutions and programs tailored to each client.
As we complete our 21st year in business this December, we want to express gratitude for ITC’s success and growth! We have great aspirations ahead, so we ask that you’ll stay plugged into The Diligence Report for more FTZ and supply chain insights next month. Wishing everyone a happy and healthy 2022!
Featured FTZ Fact
With over 20 years of Foreign Trade Zone experience, ITC-Diligence is highly proficient in the Foreign Trade Zone application and implementation process. We have seen experienced FTZ applicants become deterred by the very time consuming and somewhat intrusive process to become activated, despite the significant financial savings that can be realized after reviewing ITC’s FTZ Cost- Benefit Analysis. Becoming an FTZ Operator requires a client’s strategic commitment and proactive approach. Various obstacles along the way can derail the overall objective, such as lack of liquidable assets funds, exhaustive time constraints among employees, or an unanticipated liability.
ITC-Diligence, in partnership with experienced FTZ Operators, has recognized the reality of these obstacles and has developed an alternative strategy for those seeking FTZ benefits using a Sub-Operator concept. We have successfully utilized this process for several companies throughout the west coast. Once the applicant is approved as a Sub-Operator, additional benefits, such as reducing initial costs of the set up process, an expedited Implementation process, and limited liability protection, can be realized. Additionally, the Sub-Operator is granted time to strategically align themselves should they decide to become an independent FTZ Operator in the long term.
At ITC-Diligence, we believe no obstacle, especially the FTZ process, should ever be such a deterrent that a business can’t enjoy the organic benefits of the FTZ Program. We are professional “FTZ liaisons” on behalf of our clients, and continually seek to grow strategic partnerships with Grantees across the country, the FTZ Board, and US Customs.