•The Application Process
NEOTEC operates under a fast-track application process called the Alternative Site Framework. This new application process was approved for NEOTEC by the U.S. Foreign-Trade Zones Board in early 2011. It dramatically shortens the time frame under which companies can be approved for FTZ status, from 12 months or more to just one to two months.
FOR FTZ APPLICATION STEPS AND TIMELINE, CLICK HERE.
Please note that an application is not required for companies locating in a current site within FTZs 40 or 181.
The company would simply enter into an agreement with the Cleveland-Cuyahoga County Port Authority for FTZ 40, or NEOTEC and the Zone Site Administrator within the county for FTZ 181.
To establish a new site or modify an existing site:
All expansion applications and requests for boundary modifications in FTZ 181 are prepared by NEOTEC and submitted to the FTZ Board for review and approval. An expansion application establishes a new site within the zone. A boundary modification application modifies an existing FTZ site or transfers acreage.
Components of an application include an executive summary, legal authority to apply, site description, operation and financing, economic justification, maps and legal description.