BizFTZ is short for Foreign Trade Zone #182 in Northeast Indiana. The zone covers the twelve county region serving Adams, Allen, Blackford, DeKalb, Huntington, Jay, LaGrange, Noble, Steuben, Wabash, Wells and Whitley.
The Foreign Trade Zones Act was created to "expedite and encourage foreign commerce" in the United States. This is accomplished through the designation of geographical areas, in or adjacent to Customs Ports of Entry, where commercial merchandise receives the same Customs treatment it would if it were outside the commerce of the United States.
Merchandise of every description may be held in the Zone without being subject to Customs duties and other ad valorem taxes. This tariff and tax relief is designed to lower the costs of U.S.-based operations engaged in international trade. These special geographic areas - Foreign Trade Zones - are under the supervision of the U.S. Customs Service, and overseen on an audit-inspection basis, whereby compliance is assured through audits and spot checks under a surety bond, rather than through on-site supervision by Customs personnel.