WILMINGTON, NC – January 31, 2024 – Frontier Scientific Solutions, a leading global storage and logistics provider specializing in the pharmaceutical industry, proudly announces its recent achievement of securing a Foreign Trade Zone (FTZ) Designation – a groundbreaking milestone as the first in Foreign Trade Zone 214 in the state of North Carolina.
The FTZ Designation positions Frontier Scientific Solutions at the forefront of innovative solutions in pharmaceutical storage and distribution, offering a host of benefits to companies operating within the industry. This strategic move, along with global transportation partnerships, underscores Frontier’s commitment to enhancing the efficiency, security, and cost-effectiveness of pharmaceutical supply chains.
Key advantages of utilizing Frontier’s FTZ Designation include:
1. **Duty Deferral and Reduction:** Pharmaceutical companies can defer or reduce duties on imported materials, providing significant cost savings and a competitive edge in the global market.
2. **Streamlined Customs Procedures:** Frontier’s FTZ status allows for streamlined customs procedures, reducing administrative burdens and accelerating the movement of pharmaceutical products.
3. **Enhanced Security Measures:** With state-of-the-art facilities and adherence to rigorous security protocols, Frontier ensures the safety and integrity of pharmaceutical products throughout the storage and logistics process.
4. **Flexibility in Manufacturing and Repackaging:** Companies can engage in manufacturing, processing, and repackaging activities within the FTZ without being subject to certain customs duties, enabling greater flexibility in responding to market demands.
5. **Improved Supply Chain Efficiency:** By leveraging Frontier’s FTZ Designation, pharmaceutical companies can optimize their supply chains, minimizing lead times and ensuring timely delivery to end-users.
6. **Strategic Location:** Situated in North Carolina, Frontier provides a geographically advantageous location, facilitating efficient distribution to both domestic and international markets. Utilizing key transportation assets such as the Port of Wilmington, recently ranked the most efficient port in North America two years running.
Frontier Scientific Solutions is enthusiastic about the opportunities this Foreign Trade Zone presents for pharmaceutical companies. The FTZ designation along with collaboration with our global logistics partners has become a key component of our commitment to providing a comprehensive and efficient solution for pharmaceutical logistics needs, contributing to the growth and success of the pharmaceutical industry in North Carolina.
“We are thrilled to announce our Foreign Trade Zone Designation, marking a significant milestone for Frontier Scientific Solutions and the pharmaceutical industry in North Carolina. This achievement underscores our unwavering commitment to providing cutting-edge solutions that empower pharmaceutical companies with cost-effective, secure, and streamlined storage and global logistics services. By utilizing our global logistics network and with the FTZ Designation, we are well-positioned to elevate the industry standard and contribute to the success of our partners and clients worldwide.”
– Michael Braddock II, Chief Business Officer, Frontier Scientific Solutions
“The benefits of a Foreign Trade Zone designation are robust and this investment from Frontier Scientific Solutions to provide efficiency, flexibility, and innovative solutions to the pharmaceutical supply chain highlights their focus on operational value-creation for their customers and the rapidly developing temperature controlled logistics sector in North Carolina.”
– Dana Magliola, Program Manager Freight & Logistics, NCDOT
