New York State Senator Mike Nozzolio today announced that Governor Cuomo has signed into law legislation (S3636A) he sponsored and fought to enact that will create the opportunity for Ontario, Livingston, Wayne, Seneca, Yates and Steuben Counties to apply to the federal government to participate in the Foreign-Trade Zone Program.
“New York’s private sector small business owners, job creators and entrepreneurs are the engine for economic growth in our State and Nation,” said Senator Mike Nozzolio.
“This important legislation is the next step in our aggressive efforts to help our local,
job-producing businesses stay competitive in the global marketplace and create jobs right here in the Wayne - Fingerlakes region. I thank the Ontario, Seneca and Wayne Boards of Supervisors’ for their support as we worked to enact this important legislation.
By cutting red tape and reducing the burden on job-producing businesses we can create a better future for our young people, friends and community.”
This legislation will help expand markets and increase sales for local job-producing businesses by allowing them to cut costs, streamline the customs process and create greater efficiencies. The Foreign-Trade Zone Program is designed to level the playing field for American manufacturing companies so that they can retain and create new jobs in the United States.
The Foreign-Trade Zone program provides the competitive advantage that businesses need to keep their manufacturing and distribution operations in the United States.
· No duties on imported goods that are later re-exported;
· Delayed payment of duties on goods that enter the U.S. market;
· Manufacturing-specific benefits that can include reduction of duties;
· Elimination of duties on waste, scrap and rejected or defective parts;
· Reductions in merchandise processing fees because zone users may be able to file single customs “entry” - reducing costs for businesses.
“The legislation signed into law today will help keep the Finger Lakes moving in the right direction and create a more favorable environment for businesses to create well paying new jobs. As State Senator, I will continue my aggressive efforts to reduce the burden on New York’s hardworking taxpayers and support initiatives that help create well paying, private sector jobs in the Wayne-Finger Lakes region,” said Senator Mike Nozzolio.