Amkor Technology is submitting an application to the federal government to establish a foreign trade zone for its future north Peoria location.
Officials say an approval will better facilitate international trade for the company and ultimately keep costs low for consumers.
Foreign-Trade Zones are secure areas under U.S. Customs and Border Protection supervision that are generally considered outside CBP territory upon activation. Located in or near CBP ports of entry, they are the United States’ version of what are known internationally as free-trade zones, according to U.S. Customs and Border Protection.
