Senator Patrick M. Gallivan (R-C-I, Elma) announces the New York State Senate has passed a bill to give Wyoming County the authority to participate in the Foreign Trade Zone program, providing local businesses and manufacturers with various cost saving options. The bill, (S.7000) sponsored by Senator Gallivan, would designate Wyoming County as a sub-zone of Erie County’s Foreign Trade Zone.
"Participation in the Foreign Trade Zone program will result in significant savings for dozens of businesses located in Wyoming County,” Gallivan said. “The savings will help these manufacturers create and retain local jobs and encourage further investment and growth.”
Foreign trade zones were established as part of the Foreign Trade Zones Act of 1934 to expedite and encourage foreign commerce. The program affords companies and manufacturers cost saving options related to United States taxes applied to imported or exported merchandise.
Wyoming County is currently home to over 50 advanced manufacturing companies which account for 16 percent of the county’s total workforce.
The legislation will be sent to the State Assembly.