FTZ Board Considers Expanded Production Authority for Vessel Facility
The Foreign-Trade Zones Board has received from the Houma-Terrebonne Airport Commission, grantee of FTZ 279, a notification of proposed production activity at the Thoma-Sea Marine Constructors LLC facilities in Houma and Lockport, La. Thoma-Sea already has authority for the construction and repair of oceangoing vessels within subzone 279A and the current request would add a foreign status material/component to the scope of authority.
Production under FTZ procedures could exempt Thoma-Sea from customs duty payments on the foreign-status materials/components used in export production. On its domestic sales, Thoma-Sea would be able to choose the duty rate that applies to offshore supply ships and vessels (zero) for the foreign-status materials/components. Customs duties also could possibly be deferred or reduced on foreign-status production equipment.
Comments on this notification are due no later than Sept. 12.