The State of Indiana recently became the second state in the country to establish an accelerated application process for Foreign-Trade Zones (FTZ) in all counties, behind Delaware, which has three counties.
On Feb. 22, the U.S. Foreign Trade Zone Board approved the Alternative Site Framework (ASF) designation for Randolph County, making it the 92nd and final county in the state to be approved for a streamlined FTZ application process.
There are 41 states that have been approved for the ASF designation in at least one county, and only three states have more than 80 percent of their counties approved.
The ASF designation was created by the U.S. Foreign-Trade Zones Board to reduce the time and paperwork required to establish an FTZ, in some cases reducing the application process from one year down to 30 days. FTZs are designed to reduce, eliminate or delay duties on certain international goods in order to increase competiveness of American companies and protect U.S. jobs.
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