The Port of New Orleans (Port NOLA) has received approval from the US Department of Commerce for its application to expand the Federal Trade Zone (FTZ No. 2) service area to include St. Tammany Parish.
FTZ No. 2 already covers Orleans, Jefferson, and St. Bernard Parishes and the expansion positions the port and the broader Southeast Louisiana business community to attract new investment, support regional economic development, and create jobs.
An FTZ is a secure area under US Customs and Border Protection supervision that allows businesses to defer, reduce, or even eliminate duties on imported goods.
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