Contact: Michael Fraser, (518) 455-3751
Assembly Minority Leader Brian M. Kolb (R,C,I-Canandaigua) today announced that legislation to help Ontario County establish, operate and maintain Foreign-Trade Zones (FTZ) has been signed into law by the Governor. Establishing an FTZ will help local entrepreneurs sell their goods faster, cheaper and easier around the globe and begin reaping the economic rewards of international trade. Leader Kolb spearheaded legislation in the Assembly (A.4665-A) to help make this important economic development measure a reality for the region.
"With our history of innovation and international commerce, FTZ status is long overdue in the Finger Lakes area. The designation of a foreign trade zone in Ontario County will streamline the customs process, create more jobs and improve the level of efficiency in the marketplace," Leader Kolb said. "This is a tremendous day and wonderful opportunity for our region. This program will give small businesses and manufacturers the tools they need to help working families in our area and sell high-quality, locally made products across the globe."
The legislation authorizes Ontario County to apply to the U.S. Commerce Foreign Trade Zone Board for designation as an FTZ. If Ontario County receives the designation, manufacturers across the region would be able to take advantage of cost savings, global competitiveness and the deferral of duty payments on merchandise until the finished products enter the marketplace. In addition to Ontario County, Livingston, Wayne, Seneca, Yates and Steuben counties will also benefit.
"Having a foreign trade zone for Ontario County and our five surrounding counties will create another economic development tool for our region," Ontario County Director of Economic Development Mike Manikowski said. "We have already seen strong interest from several area businesses that recognize a foreign trade zone will save money and create jobs. I want to thank Assembly Minority Leader Kolb for his unwavering support and leadership in moving this legislation forward."
"The establishment of an FTZ in the Finger Lakes would not be possible without the help and support of an incredibly resourceful team of local small business owners, local officials and economic-development experts. This is an important initiative that, once implemented, will have immediate and long-term benefits to the region's economy," Kolb, the former President of Refractron Technologies and co-founder of the North American Filter Corporation, said.