Revving Up Business: Holda LLC Accelerates Growth with FTZ Status in Las Vegas

Holda LLC, a leading provider of automotive parts and accessories located in Greater Vegas, is now officially a Foreign Trade Zone (FTZ) operator! The designation means the company can now take advantage of the benefits the Foreign Trade Zone offers, such as duty deferral and inverted tariff benefits, which will improve their supply chain efficiency, reduce costs, and better serve their customers.

The Foreign Trade Zone is a program that allows companies to bring foreign goods or raw materials for manufacturing or distribution into the United States without formal customs entry or payment of customs duties and government excise taxes until products leave the zone.

As the grantee for Foreign Trade Zone 89, the Las Vegas Global Economic Alliance (LVGEA) played a key role in helping Holda obtain FTZ status. By partnering with the LVGEA, Holda was able to streamline the FTZ application process and receive guidance throughout the entire process. The LVGEA was also able to provide valuable resources and support, including assistance with the application, ongoing compliance, and reporting requirements.

The automotive industry is one of many industries that can benefit from operating in an FTZ. Some specific benefits include:

• Duty deferral: Companies can defer paying customs duties until their goods enter the U.S. market. This can help improve cash flow and reduce the cost of doing business.
• Inverted tariff benefits: Companies can benefit from inverted tariff benefits, which can help lower the cost of production and improve competitiveness.
• Improved supply chain security: FTZs offer improved supply chain security through enhanced inventory control, reduced risk of theft, and faster customs processing times.

Operating in an FTZ offers numerous benefits for companies engaged in global trade. From duty deferral to improved supply chain security, FTZs provide a competitive advantage that can help companies thrive in today’s global marketplace. With the help of organizations like the LVGEA, more companies are now able to take advantage of these benefits and achieve their goals.