EL PASO, Texas (KTSM) – On Wednesday, city officials announced that the City of El Paso’s Foreign Trade Zone (FTZ) 68 has been named the “2021 Best Free Zone for Large Tenants for the Americas” by fDi Intelligence of the Financial Times Group.
Officials say this is the fourth consecutive year the fDi Intelligence recognizes El Paso’s FTZ for its performance. They add that the FTZ is the only foreign trade zone in North America to receive the recognition this year.
Established in 1981, Foreign Trade Zone 68 covers more than 3,400 acres of designated space across El Paso.
A Foreign Trade Zone is a secure area near a port of entry, where foreign and domestic goods can be brought without a formal customs entry or payment of customs duties.
Legally outside of the U.S. Customs territory, the economic development tool is established by virtual boundaries and helps to increase business and industry in a region.