MIAMI: November 01, 2016. Miami airport's application to the U.S Department of Commerce as a Foreign Trade Zone (FTZ) magnet site has been approved by the Miami-Dade Board of County Commissioners.
The new location will help manufacturers reduce or even eliminate their tariffs by allowing them to lease available airport property and generate more economic impact and jobs within the area.
The application will see the addition of Miami-Dade County's current FTZ-licensed facility (right) to include the airport and is expected to save shippers time and cost in their supply chains. Users will include pharma, electronics, textile, footwear, auto and aircraft part, avionic, machinery equipment and consumer goods industries.
Miami-Dade aviation director Emilio González commented: "Combined with our recent designation by IATA as the first pharmaceutical freight hub in the U.S., a magnet site designation has vast potential for opening new doors at MIA within the trade and logistics industries, in addition to being a major job creator."
The latest move follows Miami's collaboration with Brussels airport to expand the global pharma cargo business; the launch of the first ocean-to-air perishables transshipment program in the state of Florida; and its Cargo Optimization, Redevelopment and Expansion Program, a permanent concept to modernize MIA's existing cargo operation and double its capacity.