Aspen Distribution is the proud licensed operator of the only general purpose Foreign Trade Zone (FTZ123) in Denver. The Denver 123 FTZ program gives special duty-free status to select US exports and re-exported items, and duty-deferred status to foreign imports.
Industries and Opportunity
Industries of all types can be eligible to benefit: construction, food production, fashion, luxury goods, green tech, beverages, biotech, biomed, electrical components to name a few.
If your annual payments to Customs are greater than $50,000 and you are located within 60 miles of the port of entry (18300 East 71st Avenue, Denver, CO 80249 (DIA)) using FTZ123 as part of your supply chain efforts may save you a significant amount of time and money when exporting or importing internationally.
Save Time and Money with a Foreign Trade Zone
- Duty Elimination: Customs duties are not paid on merchandise re-exported from the FTZ
- Duty Deferral: Imports may be admitted to the FTZ and held indefinitely in inventory without paying Customs duties. Duty is paid only when imports are distributed in the US.
- Duty Reduction: FTZ users may elect to pay the duty rate on either component material or finished product merchandise produced from imported and domestic component material – whichever is lower.
- Shipping Expedited: Delays in Customs clearance and duty drawback procedures are eliminated. Delivery times after US arrival are reduced due to the special Direct Delivery procedure.
Other Ways to Save with a Foreign Trade Zone
- Quality Control: The FTZ may be used for quality control inspections to insure that only products that meet specifications are imported. Substandard good can be destroyed or returned before duty is paid.
- Exhibition: Merchandise and machinery may be held for exhibition or displayed in the FTZ without duty payments. (Retail trade is prohibited.)
- Weekly Entry: All shipments from the FTZ in a business week may be placed on one Customs entry, significantly reducing paperwork and expense.
- Zone to Zone Transfer: Merchandise may be transferred under bond from one FTZ to another, even across the country. Duties are not owed until the merchandise is finally admitted into the US Customs Territory.