20 —September 2025 — Delaware — DelMarVa — M id A tlantic Real Estate Journal
www.marej.com
D elaware By Patricia A Cannon, MSM, AZS, Delaware Department of State Delaware Foreign-Trade Zone #99 Allows You To Comply, Compete & Grow
S
tate of Delaware’s For- eign-Trade Zone #99 is the Grantee for the U.S.
businesses willing to comply with all existing importing and exporting requirements, including more robust over- sight from US Commerce (Foreign-Trade Zones Board) and US Homeland Security (Customs & Bor- der Protection) . This helps the US-based FTZ approved and activated business to compete with international markets that may have lower labor costs and/or lower qual - ity standards. It also allows those approved and activated US-based FTZ operators and users to grow by creating
more jobs and adding to the U.S. Gross Domestic Product. Why FTZ#99? The feder - al Foreign-Trade Zone Act was passed in 1934. NY was granted authority to manage the 1st Foreign-Trade Zone so they are named FTZ#1. In 1984, the State of Delaware was granted authority as the 99th Foreign-Trade Zone. This newly granted authority under the Traditional Framework al- lowed Delaware to manage the Port of Wilmington, DE and contiguous parcels as a For- eign-Trade Zone. On July 5, 2012, the State of Delaware’s
Authority was expanded to be statewide under the Alterna- tive Site Framework. Local U.S. Customs & Bor - der Protection (CBP) main - tains ultimate authority over goods and materials being imported into or exported out the U.S. They can seize ship- ments that are suspected of being non-compliant with U.S. laws. They are credited for pulling millions of counterfeit goods and pounds of illicit drugs, such as Fentanyl, out of the US market. Delaware FTZ #99 is proud to work closely with our Local CBP officers to
ensure that the FTZ operators and users are aware of the importance of compliance! It is through that robust com- pliance that businesses can compete and grow! For more information on Delaware’s FTZ program, please visit www.business.delaware.gov/ ftz99. To learn more about other programs that may be helpful to your business, please visit Delaware Division of Small Business website at www. business.delaware.gov. To plan your next Delaware adventure, please visit Dela- ware Tourism website at www. visitdelaware.com. Patricia A. “Patty” Can- non, MSM, AZS, is the Di- rector of Special Projects for the Division of Small Business and the Grantee Administrator for Foreign Trade Zone No. 99 within the State of Delaware’s Department of State. MAREJ Douglas Development inks three office leases totaling 24,332 s/f in Wilmington, DE WILMINGTON, DE — CBRE announced the com- pletion of three office leases totaling 24,332 s/f at PNC Bank Center, a fully reno - vated class A office building located at 222 Delaware Ave. in Wilmington. The law firms of Ballard Spahr, Wilson Son - sini Goodrich & Rosati, and Scott + Scott all committed to office space at the premier of - fice property located in heart of Downtown Wilmington. CBRE’s John Kaczowka spearheads the office leasing campaign at the property and represented the ownership, Douglas Development in the lease negotiations. “Fully renovated from the ground up just three years ago, PNC Bank Center continues to experience tremendous leasing activity,” said Kaczowka. “Of - fice tenants are attracted to the property’s strategic downtown location in Wilmington’s Cen - tral Business District as well as the hands-on ownership.” “We are thrilled with the response by the market since completing a major capital improvements campaign,” said Norman Jemal of Douglas Development. MAREJ
Fo r e i g n - Trade Zone program that has been helping U.S. businesses to compete in the glob- al economy for over 90
Patricia A Cannon
years. The U.S. Foreign Trade Zones Act of 1934 and corre - sponding Federal Regulations allow for improved cash flow that empowers those
StudyDelaware.US — Your Next Chapter Starts Here. WORK, STUDY, PLAY — ALL WITHIN REACH OF THE SHORE Explore accredited colleges & universities across Delaware:
PROGRAMS FOR EVERY PATH — TRANSFER, TRAINING, RESEARCH.
Study Delaware is a consortium of colleges and universities in the State of Delaware that provides guidance and resources to help students choose to pursue higher education in Delaware.
DISCOVER YOUR PATH
StudyDelaware.us
Made with FlippingBook. PDF to flipbook with ease