The Foreign-Trade Zones (FTZ) Board has approved the establishment of a subzone for Cummins Inc. in Irvine, Pennsylvania. This decision was made in response to an application submitted by the Erie-Western Pennsylvania Port Authority. The FTZ Board's Executive Secretary evaluated the proposal and confirmed it met the necessary requirements. The approval is subject to the same rules and regulations that apply to the main zone, including staying within the designated activation limit of 530 acres.
Simple Explanation
The Foreign-Trade Zones Board has said yes to letting Cummins Inc. have a special area in Irvine, Pennsylvania, where they can do business with a bit more flexibility, as long as they follow all the usual rules.