According to statistics provided by the Office of Trade and Industry Information, Manufacturing and Services, International Trade Administration and the U.S. Department of Commerce, Lubbock exports totaled $966,936,657 in 2011. That being said, Lubbock offers assurance when it comes to effectively handling exported goods and the increasing trade demands. Various resources in Lubbock will ensure that the export process is seamless for your business.
Foreign Trade Zone
Foreign-Trade Zone 260 (FTZ-260) is strategically located in the South Plains area providing a central United States location for businesses looking to meet increasing trade demands. FTZ’s were created in the United States to provide special customs procedures to U.S. plants engaged in international trade-related activities. Duty-free treatment is accorded items that are processed in FTZ’s and then re-exported, and duty payment is deferred on items until they are brought out of the FTZ for sale in the U.S. market. This helps to offset customs advantages available to overseas producers who compete with domestic industry.
The Lubbock Preston Smith International Airport (LBB) serves as the region’s United States Customs and Border Protection (CBP) designated international port of entry. A CBP Port Director offices at the airport. The Lubbock FTZ-260 was approved by the Foreign-Trade Zones Board on January 14, 2004 and covers 693 acres on the LBB and 2,000 acres on the deactivated Reese United States Air Force Base.
FTZ’s are secure areas approved by the U.S. Department of Commerce and under the supervision of the United States Customs and Border Protection (CBP). FTZ’s are considered to be outside of U.S. Customs Territory for purposes of duty payment. Located at or near (60 miles max.) customs ports of entry, they are the United States version of what are known internationally as “free trade zones.”
For more information about the zone application and activation process, or fee schedule, please download the FTZ-260 Schedule..
Major Lists of Exporters
According to statistics provided by the Office of Trade and Industry Information, Manufacturing and Services, International Trade Administration and the U.S. Department of Commerce, Lubbock exports totaled $772,788,631 in 2010. This amount was up from the previous year when exports totaled $339,841,774. The main contributors to this increase were crop production (74.9%) and machinery manufacturing (10.6%) followed by food manufacturing (2.5%).
District Export Council
Any business that manufactures a product will likely have a need to export that product to its customers. However, the export process offers a multitude of challenges that, if handled incorrectly, could lead to setbacks to your timeline as well as your budget. In order to meet these challenges, District Export Councils (DEC) were formed.
District Export Councils contribute leadership and international trade expertise to complement the U.S. Commercial Service’s export promotion efforts through counseling businesses on the exporting process and conducting trade education and community outreach.
The West Texas District Export Council (WTDEC) is one of four District Export Councils in Texas. It is under a nationwide network of DECs that make a significant contribution to America’s international competitiveness. The WTDEC is a diverse group of volunteer international trade professionals who meet for strategic sessions to address international issues and awareness. Among the members, you will find exporters of manufactured products and services, providers of export support services (accounting, finance, legal, transportation, etc.), academia and leaders of non-profit organizations of state and local government. A significant number of the members are from the private sector and their knowledge of international business provides a source of professional advice to exporters and to the entire international trade community in Texas, one of the nation’s leading exporting states.
Ways the West Texas District Export Council assists companies
• Market Research
• Business Planning
• International Law
• Gold Key Service
• Working Capital Options
• Project Financing Options
• Seminars and Workshops
• Hosting Foreign Delegations
• Community Public Relations
If you export a product or receive imports in order to run your business, you should be informed about U.S. Customs and Border Protection (CBP). CBP is one of the Department of Homeland Security’s largest and most complex components, with a priority mission of keeping terrorists and their weapons out of the U.S. It also has a responsibility for securing and facilitating trade and travel while enforcing hundreds of U.S. regulations, including immigration and drug laws. Lubbock Preston Smith International Airport is an international Customs and Border Protection Port of Entry with a resident CBP Port Director.
Three crucial roles CBP performs
- Facilitating trade to and from the U.S. and around the globe as well as securing it from acts of terrorism
- Assuring that goods arriving in the U.S. are legitimate and that appropriate duties and fees are paid for
- Transfer of merchandise into and out of a Foreign-Trade Zone and for matters involving the collection of revenue
The Ports-to-Plains Alliance Corridor is a planned four-lane highway that will allow companies to access less congested ports of entry into Mexico and Canada. It will be constructed from the Mexico border through West Texas and a 10 state region into Canada. An alliance of more than 165 organizations representing cities, counties, economic development corporations, chambers of commerce and the private sector have united to promote and support implementation of the corridor. The effort focuses on transportation improvements, but also addresses the relationship between the transportation system and economic drivers including energy, agriculture, manufacturing and distribution.
Once complete, the Ports-to-Plains Alliance Corridor will provide a complete four-lane route from San Angelo to markets south into Mexico and north through Colorado to markets in Alberta and Saskatchewan, Canada. The projected completion date for all four lane projects and relief routes is 2030.