FTZ #176 Releases 2020 Annual Report

Despite the uncertainty throughout the global economy at the beginning of 2020, the year finished strong across many indicators for industrial and distribution sectors. One of the predominant impacts of the COVID-19 Pandemic has been an increase in lead times throughout the supply chain, and reduction of overall supply. Companies are seeing price increases and growing lead times to access product, while demand continues to grow. To mitigate this impact, companies are increasing inventory volumes. The foreign-trade zone can play an important role in deferring the tariff costs of those inventories and help stabilize supply chains.

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