ProdecoTech, eBike Manufacturer, Brings Customers Additional Benefits as part of Port Everglades Foreign-Trade Zone No. 25May 14, 2015 2:38 pm
MEDIA CONTACT: Minda Moticker
BROWARD COUNTY, FL – ProdecoTech, an electric bicycle (eBike) manufacturer in Oakland Park, FL, has received federal approval to conduct their production activity as a non-contiguous site within Port Everglades Foreign-Trade Zone (FTZ) No. 25, which allows the company to save approximately 4 percent of the cost of their finished products by eliminating U.S. Customs duties on the foreign components.
“By applying for and obtaining FTZ status for the production and warehouse part of our operations, we are able to save on Customs duties on the foreign parts and improve our bottom line,” said ProdecoTech Co-Founder Daniel Del Aguila. ProdecoTech prides itself on the fact that they are the only fully-integrated eBike company in the U.S., with almost every aspect of business from design, manufacturing, product service and support, as well as dealer and consumer sales, all happening from their South Florida headquarters.
“We are excited about this accomplishment because it further supports our mission of providing U.S. built eBikes to ensure the highest quality and most affordable eBike options for our dealers and customers,” said Robert Provost, ProdecoTech Co-Founder.
ProdecoTech is taking advantage of its position as the premier eBike company in America by entering in to high-visibility global partnerships to provide the U.S. bike market with superior electric bikes as compared to its import-based competitors. During a reception to celebrate the manufacturer’s entry into the FTZ program, representatives from Samsung introduced a battery pack designed specifically for ProdecoTech eBikes.
Established in 1934, the federal FTZ program, of which FTZ No. 25 at Port Everglades is the first in Florida, provides substantial savings and incentives to manufacturers and distributors in the United States. The most popular FTZ benefits include duty exemptions on re-exported goods, relief from inverted tariffs, duty referral, and duty elimination on waste, scrap, and yield loss. While the U.S. government may incur a reduction in Customs duty revenue, it gains from income tax generated from jobs created and retained. Local governments benefit from sales and property taxes.
FTZ No. 25, which includes companies that import and export everything from auto parts to cosmetics, helps businesses of all sizes to implement more effective economical solutions for cargo storage, warehousing and distribution, merchandise manipulation and manufacturing needs.
For more information about ProdecoTech contact Minda Moticker at 800-943-6190 or firstname.lastname@example.org. For more information about FTZ No. 25, contact Robert Jacob at 954-468-0214 or email@example.com
Categorised in: Prodecotech E-Bikes in the News
This post was written by ptech