Foreign Trade Zones (FTZ)
Grow With Miramar
For businesses poised for international expansion, proximity to FTZs isn’t just a luxury; it’s a necessity. Miramar, with its strategic location near two pivotal FTZs in South Florida, offers corporations an unmatched advantage. It's not just about location but about the myriad opportunities, cost savings, and global connections that this city brings to the table. In the dynamic world of global trade, Miramar stands out as the strategic choice for businesses looking to make their mark.
Foreign Trade Zones in South Florida: The Business Edge of Miramar
South Florida has long been recognized as a hub for international business, offering a strategic location, modern infrastructure, and easy access to Latin America and the Caribbean. One of its shining gems is the city of Miramar, conveniently nestled between two significant Foreign Trade Zones (FTZ): Port Everglades (FTZ #25) and Fort Lauderdale Executive Airport (FTZ #241). As companies scout locations that bolster their international operations, Miramar emerges as an ideal choice.
Advantages of operating in Foreign Trade Zones include:
Easy and fast access to major highways and international airports
Opportunity to eliminate, reduce or defer customs duties
Business expansion within U.S. and internationally
Sample of Miramar Businesses with Global Operations
The city is home to numerous companies that conduct business globally, including:
- ZF Marine
- Simtec Silicone
- WAI Global
- Zebra Technologies
- JL Audio
- Stanley Black & Decker
Florida's FTZ Landscape
Florida’s 1,300 miles of coastline make the state a prime location for international imports and exports. There are 20 FTZs within the state, including 7 within South Florida (Palm Beach, Broward and Miami-Dade counties) and 2 within Broward County:
FTZ 135 Port of Palm Beach (~70 miles to Miramar)
FTZ 241 Fort Lauderdale International Airport (~ 25 miles)
FTZ 25 Broward County Port Everglades (~ 25 miles)
FTZ 281 Miami-Dade County PortMiami (~ 22 miles)
FTZ 32 Miami (also ~ 22 miles)
FTZ 180 Miami Wynwood (~ 20 miles)
FTZ 166 Homestead (~46 miles)
Miramar's advantage is further accentuated when considering Florida's prominent role in the FTZ landscape. Florida’s FTZs consistently rank in the top 25 states:
#13 in the top 25 states for merchandise received (imports) in FTZs in 2022
#5 in 2022 for exports
#9 for imports and #4 for exports in warehouse/distribution activities
#18 for imports and #8 for exports in production activities
FTZ 25 and FTZ 241 Background
FTZ #25 at Port Everglades was established in 1976, making it one of the earliest FTZs in the country. This port has since grown to be one of the most active in the U.S., moving more than $10 billion in merchandise in and out of its ports (Port Everglades.net). According to Port Everglades' Department, the benefits of Port Everglades' FTZ No. 25 include:
81 acres and 25 sites within Broward County
Inventory control system that saves time (and expenses)
FTZ #241 at Fort Lauderdale Executive Airport was established more recently, yet has swiftly become integral for businesses relying on air freight. Advantages of the FTZ 241 at Fort Lauderdale Executive Airport include:
Proximity to 200-acre industrial park
Miramar's Multiplicity Advantage
Having access to not just one but two nearby FTZs is a boon for Miramar businesses because they offer:
Flexibility: Nearness to FTZs grants businesses the leverage to cherry-pick the most apt zone based on specific operational needs.
Risk mitigation: In unforeseen situations where one FTZ encounters operational hiccups, businesses can swiftly transition operations to the alternate zone.
Diversification: Access to two FTZs diversifies potential trade opportunities, letting businesses branch out to a variety of markets and collaborations.
Miramar: Gateway to International Business
With a driving distance of just 26 minutes to Port Everglades and 25 minutes to Fort Lauderdale Airport’s FTZ, Miramar offers an unparalleled advantage to businesses. Here's why:
1. Strategic location: A quick commute to both FTZ #25 and #241 places Miramar businesses in the heart of international trade activity for swifter imports and exports and a vantage point to both sea and air cargo operations.
2. Cost savings: Operating near an FTZ provides substantial financial benefits. Companies can defer, decrease, or entirely avoid certain customs duties and tariffs, giving them a competitive edge in global markets.
3. Streamlined customs procedures: With simplified customs processes, businesses can expect faster clearance times, which translates to quicker product turnarounds and heightened supply chain efficiency.
4. Access to global markets: Being in proximity to two prominent FTZs, businesses in Miramar can tap into international markets more effectively, which is indispensable for corporations with a global reach.
5. Infrastructure and connectivity: Miramar boasts excellent transportation networks. Whether it's by road, rail, or air, the city's strategic location ensures the seamless movement of goods, further solidified by its proximity to major highways.
6. Business-friendly environment: Miramar supports businesses with economic incentives and the backing of the city’s economic development department.