Foreign trade zone approved for five counties including Ontario

Julie Sherwood

U.S. Sen. Charles Schumer announced Monday the approval of a foreign trade zone (FTZ) for Ontario County. Schumer spoke at East Bloomfield-based manufacturer Crosman Corp. in January, promoting for the approval of Ontario County’s FTZ application – that will include Wayne, Seneca, Yates, and Livingston counties.

Foreign trade zones are designated sites in the United States, licensed by the FTZ Board, where companies can benefit from delayed or reduced customs duties in order to level the playing field with foreign competitors. Now that Ontario County has been approved, Schumer stated he will continue to fight for approval of an FTZ subzone for Crosman Corporation to expand.

“I am thrilled that Ontario County and the five county Finger Lakes region has been approved for their long-awaited foreign trade zone designation, which will level the playing field for local companies that compete with China and other foreign companies,” stated Schumer. “With an FTZ in hand, businesses throughout the Finger Lakes region will save thousands on import duties, money they can pour right back into their business in the form of expanded production and new hires. This is an opportunity to reverse the trend of losing manufacturing jobs to China and actually in-source jobs to Ontario County; it’s an opportunity that cannot be delayed any longer.”
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