Niagara Becomes Foreign Trade Zone
Monday, April 18, 2016
Foreign Trade Zone Status
Niagara becomes a Foreign Trade Zone – to attract new business and bring jobs to the region
Vance Badawey, M.P. (905) 788-2204
Niagara Centre (613) 995-0988
Niagara Centre, January 27, 2016 – On behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for FedDev Ontario, Vance Badawey, Member of Parliament for Niagara Centre, and Chris Bittle, Member of Parliament for St. Catharines, announced the designation of the Niagara Foreign Trade Zone (FTZ) Point, serving the Niagara Region’s 12 municipalities from east of Hamilton to the United States border.
This is the first FTZ Point established in Ontario. It will serve as a one-stop shop for businesses to access information on Canada’s Foreign Trade Zone policies and programs including: the Duty Deferral Program, the Drawback Program, the Customs Bonded Warehouse Program, the Export Distribution Centre Program and the Exporters of Processing Services Program.
Designating a FTZ Point in Niagara aligns with the Government of Canada’s priorities to help businesses integrate into foreign markets and global value chains. Importantly, the FTZ Point will promote Niagara as a hub for international trade and will attract foreign and domestic investment. Establishing the FTZ will energize Niagara’s economy, creating jobs and positioning the Region for long-term economic growth.
“The Niagara FTZ Point is an integral part of a greater strategy for economic prosperity in this Region, intended to attract more businesses and create more jobs, boosting the local economy and increasing opportunities for export,” said Vance Badawey, Member of Parliament for Niagara Centre.
Badawey added, “Working with our Niagara-Buffalo colleagues and other international partners we hope to attract more international business, including their supply chain logistics, to our Region.”
• Information on Foreign Trade Zones (Department of Finance Canada)
• Niagara Region
If you have any further questions, please contact Eamonn Horan-Lunney in the office of Vance Badawey, Member of Parliament at: Vance.Badawey.email@example.com or 613-995-0988