June 1, 2011
Assemblywoman Addie J. Russell (D-Theresa) announced that her bill to expand the Ogdensburg Foreign Trade Zone (A.3724) has passed the Assembly. Russell said, “This 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. By being located in an Foreign Trade Zone businesses will be better able to compete with off shore producers. 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.” The legislation must now pass in the Senate before it is forwarded to the Governor for his consideration.