Foreign Trade Zone closer to expansion

OGDENSBURG — Plans are advancing to extend Foreign Trade Zone benefits from Ogdensburg Bridge and Port Authority's industrial park and port to businesses throughout St. Lawrence County.

A bill, sponsored by Sen. Darrel J. Aubertine, D-Cape Vincent, supporting the extension of the zone has passed the state Senate — a step officials said was necessary to justify the change to the U.S. Foreign Trade Zone Board, which ultimately has the final say.

"We need to give our communities the ability to create and sustain jobs, and this legislation is part of a larger effort to grow the economy of St. Lawrence County," Mr. Aubertine said in a news release. "We've taken steps to reduce power costs through several programs and legislation, and now by enabling the county to offer the benefits of a foreign trade zone, we can give yet another tool to bring companies in to invest and create jobs."

In an FTZ, merchandise can enter the country while not being subject to U.S. duties. This can help companies avoid paying duties while the product is in storage or while it is being used in a manufacturing process. It delays the payment of duties while the goods are in the trade zone.

Wade A. Davis, OBPA executive director, said the extension would help revive the region's economy, making its businesses more competitive.

"This program allows for increased competitiveness of firms engaged in international import and exports," he said.

Officials said it's likely the federal trade-zone board would approve the extension.