Yesterday the Governor signed legislation I authored to expand the Ogdensburg Foreign-Trade Zone (FTZ) to include St. Lawrence County. This bill (A3724) is critical in increasing the competitiveness of St. Lawrence County at a particularly critical time, on the cusp of the North Country economic development council meetings, the first of which will be tomorrow morning.
Attracting new companies is one of my main focuses as our state and our region begin building a portfolio of assets that bolster our region. The expansion of the FTZ is a very unique asset and will certainly enhance our advantage as an economic development region.
This legislation allows the Ogdensburg Bridge and Port Authority to ask the Federal Foreign Trade Zone Board to approve the expansion of the current limited 75 acre zone within the City of Ogdensburg to an unlimited acreage within 60 miles or 90 minutes of travel from the Port. Through the passage of Assembly bill 3724, we are opening the ability to locate companies within St. Lawrence County while conferring a Foreign Trade Zone designation to the businesses. This will significantly increase the competitiveness of businesses locating in St. Lawrence County not only within the United States but on the global market.
“The direct efforts of Assemblywoman Russell, Senator Ritchie, and Governor Cuomo, have secured the state legislation necessary to expand the competitive benefits of the Foreign Trade Zone. When approved by the US Foreign Trade Zone Board, the restructured Foreign Trade Zone will provide companies a new tool for increased competitiveness, ultimately creating additional jobs for North Country residents. We sincerely appreciate the efforts of our elected officials.” said Wade Davis, Executive Director of the Ogdensburg Bridge and Port Authority.
“I am particularly pleased to be able to increase the tools in our arsenal in a time where our unemployment is at an all time high. This designation will assist in retaining businesses as well as attracting businesses. We have a unique pool of skilled laborers to offer any business re-locating or expanding in our area. In addition, we have the necessary land resources, as well as capability to produce the needed energy resources to run a business.” Russell said.
The bill was sponsored in the Senate (S1379) by Senator Patty Ritchie. I am appreciative of her efforts as well for moving the bill in the Senate. Together, we continue to work to give our constituents the needed advantage to thrive economically.
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