The City of Memphis and Shelby County have assisted many local companies in reaping the benefits of the Foreign Trade Zone (FTZ) Program, which include:
Property tax exemption
FTZs were established under a 1934 federal act to encourage foreign commerce and to create and retain American-based jobs. The benefits of the FTZ Program can be realized through the services of an existing general purpose zone or through designation as a subzone. A subzone classification is company site specific. The Office of Economic Development administers the FTZ grant and assists with the formal application process.