Map out higher profits and greater opportunity in designated zones.
MidAmerica’s designation as both an Enterprise Zone and a Foreign Trade Zone creates strategic savings and profitable advantages across multiple fronts, including labor, investment, and material and manufacturing costs.
Enterprise Zone: Because MidAmerica is a designated Enterprise Zone, qualified businesses choosing to claim Oklahoma’s New Jobs / Investment Tax Credits enjoy double the tax credit— 2% of the cost of depreciable property or $1,000 per employee, whichever is higher.
Foreign Trade Zone (FTZ) #53, Site 2: MidAmerica’s Foreign Trade Zone designation offers industry a powerful advantage in today’s global economy, which demands the utmost cost-effectiveness in the flow of goods and materials. In part, MidAmerica’s FTZ allows your organization to:
- Reduce, defer or eliminate duties: Reduce costs of component parts, exported products and material that is scrapped, wasted or consumed in the manufacturing process.
- Eliminate value-added costs: Dutiable value on foreign merchandise removed from the FTZ can exclude zone costs associated with processing or fabrication, such as labor, overhead and profit.
- Eliminate inventory taxes: No ad valorem taxes are paid on personal property in the FTZ.
- Cut paperwork and processing fees: Zone users file only one custom entry per week rather than one custom entry per shipment.
- Eliminate duties on sales to U.S. Department of Defense and NASA
- Track inventories more accurately and enhance security: Enjoy greater efficiency as well as lower negotiated cargo costs.
At 9,000 acres, MidAmerica is one of the nation’s largest industrial parks, strategically located at a northeast Oklahoma crossroads.
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