Lincoln Diaz-Balart: “I rise in support of the Miami Free Zone and to encourage the House Appropriations Subcommittee on Commerce, Justice…”

“I rise in support of the Miami Free Zone and to encourage the House Appropriations Subcommittee on Commerce, Justice, State and the Judiciary to look favorably upon the Free Zone next Congress. The Free Zone processes an average of $1.35 billion in merchandise each year and employs directly 70 people. Its over 140 tenants generate employment for an additional 1,400 at the facility, and additional Miami employment, as a result of the Free Zone's activities, is estimated to be 2,150. In order to support this enterprise, the Miami Free Zone must maintain extensive 24-hour security for its 860,000 square feet of warehousing, showroom and office space. This security costs over $500,000 per year in addition to $800,000 in yearly property tax. The Free Zone must pay these taxes even though the U.S. Customs Service is a tenant on the property. These costs are putting the Free Zone at a considerable competitive disadvantage over privately owned bonded warehouse operations throughout the State which offer the same advantages to foreign distributors without the security and strict, on-site customs regulations under which the Free Zone must operate. The result is a loss of control for U.S. Customs and security as well as a loss of economic benefits generated by the Miami Free Zone.”