The state Senate has followed up on the Assembly's approval of a bill to expand the Ogdensburg Foreign Trade Zone to all of St. Lawrence County. Senate sponsor Republican Patty Ritchie of the 48th …
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The state Senate has followed up on the Assembly's approval of a bill to expand the Ogdensburg Foreign Trade Zone to all of St. Lawrence County.
Senate sponsor Republican Patty Ritchie of the 48th Senate District says the bill "allows firms from around the world to ship merchandise into St. Lawrence County and exempt it from taxes and duty until it is made into finished products or shipped to its final destination.”
A similar bill sponsored by former 48th-District Sen. Darrel Aubertine, whom Ritchie defeated last November, was approved in the Senate a year ago.
The Assembly version of the bill, sponsored by 118th District Assemblywoman Addie Russell, a Democrat, was approved there last week.
“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.