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FTZ operator growth reported; staff says several activations pending with CBP
Summary
Dr. Chakra reported growth in the Free Trade Zone program with one new operator, multiple pending activations, and nearly 1.9 million square feet of activated space; staff projected roughly 20–25 FTC openings for the year based on current approvals.
Dr. Chakra provided an update on Free Trade Zone (FTZ) and Foreign-Trade Zone (FTC) operator activity, telling the board the program gained a new operator in the past month and several pending activations are nearing completion.
"We just got 3 activations that were pending from CBP," she said, and noted the program has about 1.9 million square feet of activated FTZ space. She reported 12 expansions this year, two decreases and one deactivation with a new application pending; based on current board approvals, staff estimated the program could reach roughly 20–25 activations by year-end.
She said some approvals that had been delayed are now moving more quickly (one that moved in five to six weeks) while others are still catching up to prior pace.
