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Assembly approves bill expanding Ogdensburg Foreign Trade Zone

Posted 6/2/11

A measure approved in the state Assembly Wednesday could allow businesses in St. Lawrence County to compete better with foreign businesses. Assemblywoman Addie J. Russell (D-Theresa) says that her …

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Assembly approves bill expanding Ogdensburg Foreign Trade Zone

Posted

A measure approved in the state Assembly Wednesday could allow businesses in St. Lawrence County to compete better with foreign businesses.

Assemblywoman Addie J. Russell (D-Theresa) says that her bill to expand the Ogdensburg Foreign Trade Zone has passed the Assembly, and must now pass in the Senate before it is forwarded to the governor for his consideration..

Russell said that the measure expands the existing foreign trade zone to include all of St. Lawrence County.

“This will be another reason for companies to locate their U.S. plants here and more opportunities for existing businesses to grow,” Russell said.

“Businesses located in an Foreign Trade Zone could avoid tariffs and duties on raw materials, enabling them to price their products more competitively and thus to export more locally manufactured goods,” making them competitive with offshore producers, Russell said.