International Business Development
International Business Development in Albuquerque
The Economic Development Department offers international business development assistance services through the New Mexico Trade Alliance. Services include “how-to” international business educational seminars, trade missions to foreign markets and international trade shows, and individual company consultations to assist with company-specific international business development challenges and opportunities.
To learn more about international trade opportunities in Albuquerque, contact Randy Trask randy@nmtradealliance.org, the New Mexico International Trade Alliance.
Albuquerque’s Foreign Trade Zone
Located at the intersection of I-25 and I-40, with an international airport and a Foreign Trade Zone, Albuquerque provides a strategic location for foreign small-to-medium sized enterprises (SMEs). Foreign Trade Zones (FTZs) are geographical areas where commercial merchandise, both domestic and foreign, receives the same treatment by U.S. Customs as if it were outside the commerce of the United States. Companies use FTZs to defer the payment of duties and taxes, and in the case of the re-export, avoid the applicable duties and taxes all together, as the merchandise was considered to have never entered the U.S. market.
Merchandise of every description may be held in FTZs without being subject to Customs duties or other added value taxes. Importers, manufacturers, and distributors can realize cost-savings benefits because normally when foreign cargo lands on U.S. soil it is subject to clearance through Customs and requires immediate payment of U.S. Customs duties. This tariff and tax relief is designed to lower the costs of U.S.-based businesses engaged in international trade and thereby create and retain the employment and capital investment opportunities that result from those operations.
Albuquerque Foreign Trade Zone #110 operates under the Alternative Site Framework (ASF) meaning that users may utilize the FTZ anywhere in Bernalillo County without having to physically set up operations within the FTZ fence located at the Albuquerque International Sunport. The City of Albuquerque’s Aviation Department is the official operator of FTZ #110.