Toledo, OH – Jan. 10, 2013
– The Toledo-Lucas County Port Authority has been the grantee of Foreign Trade Zone 8 since 1971, and has recently been approved for the reorganization and expansion of the zone under the Alternative Site Framework (ASF). The ASF takes the Foreign Trade Zone (FTZ) area from single buildings or parcels and overlays the FTZ over a large service area that includes all of Sandusky, Henry, Wood, Lucas and Defiance Counties in Ohio, in and adjacent to the Toledo-Sandusky Customs and Border Protection port of entry. Companies within these counties that have a need for FTZ status will no longer have to wait for the traditional process of request, review and approval of a subzone, and will now enjoy an almost immediate extension of the FTZ benefits for a qualified user.
“We are very excited that the FTZ Board has approved our application,” said Paul Toth, President and CEO for the Toledo-Lucas County Port Authority. “This new framework provides us a great tool for economic development in the northwest Ohio region. Through the new streamlined alternative site framework, businesses can now quickly utilize zone benefits at their selected site instead of being limited to pre-designated areas.”
The Foreign Trade Zone Program is a trade program designed to offer certain specific benefits to the users. Each potential user must analyze the relevant facts and circumstances to determine and to quantify the potential benefits of operating or using an FTZ. Foreign Trade Zones are secured areas located in or near U.S. Customs ports of entry, but legally considered to be outside the customs territory. For additional information on Toledo’s Foreign Trade Zone Program, go to www.toledoportauthority.org/ftz8.
It is the mission of the Toledo-Lucas County Port Authority to continuously focus on job creation by leveraging our strategic geographic position, resources and economic development proficiency to provide increased business opportunities—built upon and around our innovative transportation and logistics expertise—while promoting our community and region within the global marketplace. We will accomplish this through unmatched speed and efficiency of service, collaborative and strategic partnerships, community stewardship and the continued generation and execution of new ideas and innovations. www.toledoportauthority.org – 419.243.8251