Advantages We Offer
Situating a business within the Oneida Reservation can leverage a variety of economic benefits.
Foreign Trade Zone (FTZ) status
The Oneida Tribe can be a grantee for general purpose Foreign Trade Zones - a major advantage for companies that import components to manufacture finished goods for export.
FTZs are considered to lie outside of U.S. Customs territory for the purpose of customs duty payments. In other words, goods entering an FTZ are not subject to tariffs until they leave that zone and enter U.S. Customs territory. Merchandise shipped to foreign countries from an FTZ is exempt from duty payments.
Approximately 162 acres of Oneida Reservation land is designated FTZ. The land is located at Packerland and Adam drives, just southeast of Austin Straubel International Airport .
Businesses located on reservation property may be eligible to depreciate assets quicker than is allowed outside the reservation. This can result in tax advantages if applicable.
Regardless of whether or not this provision is incorporated into current tax law, the Oneida Tribe has the ability to pass on these tax savings to non-Indian owners when they are involved in a joint venture entity with the Tribe.
The advantages of locating a business within tribal jurisdiction depend on the type of business and corporate structure. Consult your tax professional to help determine the actual benefits available to your organization.