Senate Ok’s St. Lawrence County for Foreign Trade Zone
Aubertine bill to expand trade perks part of larger effort to grow St. Lawrence County economy
ALBANY (June 24, 2010)—The New York State Senate has passed legislation that will enable all of St. Lawrence County to use foreign trade zone benefits to attract businesses to make capital investments and create new jobs.
By expanding the foreign trade zone, this legislation will make St. Lawrence County more attractive for investment by encouraging more companies to locate their plants here to take advantage of the benefits offered by being in a foreign trade zone.
Goods shipped into a FTZ are not considered within U.S. customs territory, but in international commerce. Therefore, goods entering the FTZ do not require formal Customs entry, payment of Customs duties, or government excise taxes and can enter without thorough examination. This saves the international shipper time and money. These benefits among others in proximity to the Canadian border are expected to lure businesses that may not be interested in locating within the current FTZ boundaries at the Ogdensburg Commerce Park.
“Sen. Darrel Aubertine’s direct assistance in job creation and improving Northern New York’s regional economy continues through his advocacy of Foreign Trade Zone legislation for the Ogdensburg Bridge and Port Authority,” said Wade A. Davis, executive director of the Ogdensburg Bridge and Port Authority. “Due to the direct efforts of the Senator, the Authority would be able to provide benefits through the Alternative Site Framework of the Foreign Trade Zone program. This program allows for increased competitiveness of firms engaged in international import and exports. The Ogdensburg Bridge and Port Authority greatly appreciates Senator Aubertine’s continued focus on job creation and improving Northern New York’s regional economy.”
The legislation was submitted with the support of the St. Lawrence County Legislature and the Ogdensburg Bridge and Port Authority, and is part of a larger effort to redevelop the economy in St. Lawrence County. Within the past year, Sen. Aubertine has worked with his colleagues to pass this bill, along with the North Country Power Authority legislation, which would empower 24 municipalities in St. Lawrence and Franklin counties to reduce energy costs through a municipal power authority.
The Senator has also worked with the New York Power Authority to ensure that $10 million in unused power allocations went to businesses and dairy farms in Jefferson and St. Lawrence counties and for $16 million and 20 megawatts of power to be used by the St. Lawrence River Valley Redevelopment Agency—six towns and villages, St. Lawrence County, the Industrial Development Agency and NYPA—for economic development.