Bipartisan Group Announces Approval of Foreign Trade Zone in Southeast Ohio

BIPARTISAN GROUP ANNOUNCES APPROVAL OF FOREIGN TRADE ZONE IN SOUTHEAST OHIO

Foreign Trade Zone Board Order Will Attract Investment in Washington County, Ohio

U.S. Senator Mike DeWine (R-OH), along with U.S. Senator George Voinovich (R-OH) and U.S. Representative Ted Strickland (D-OH), today announced that the Department of Commerce approved a Southeastern Ohio Port Authority application for the establishment of a Foreign Trade Zone (FTZ) in Washington County, Ohio.

The application had the overwhelming support of the community and local school board officials, and was expedited due to the collaborative efforts of DeWine, Voinovich, and Strickland in drafting a letter to Commerce officials. As a result, Acting Assistant Secretary Joe Spetrini quickly approved a board order that will ultimately lead to increased economic investment, development, and opportunity in the area.

"This announcement marks a critical development in the economic health of Washington County," said Senator DeWine. "This is good news for Washington County families as the Foreign Trade Zone classification could inspire economic growth, create new jobs, and help area businesses compete globally."

"Having Foreign Trade-Zone status in Washington County is excellent economic news for the state of Ohio. The designation, along with Appalachian Regional Commission funding that is available for economic development in Southeastern Ohio, will help the area attract new industry, encourage existing industry to re-invest, and create new employment opportunities. It is of the utmost importance that America stays competitive in the global market. This decision will expedite and encourage international business in Southeastern Ohio and gives Ohio an important tool to compete globally for new economic development opportunities," said Senator Voinovich.

"The designation of the Foreign Trade Zone in Washington County creates strong incentives for new businesses to locate in our area," Rep. Strickland added. "Washington County leaders worked very hard to make this trade zone a reality, and can now shift their efforts to bringing in new industry and job opportunities for workers in southeastern Ohio. This is good news indeed."

As one of over 230 Foreign Trade Zones in the United States, Washington County will greatly benefit from tariff and tax relief that will lower the costs of businesses engaged in international trade.

http://voinovich.senate.gov/news_center/record.cfm?id=239998&