Development Chenango Corporation establishes FTZ #285

Chenango County has been granted authority by the U.S. Department of Commerce to establish a Foreign-Trade Zone (FTZ), becoming only the 15th FTZ authorized in the state. According to Development Chenango Corp.'s (DCC) executive director Steve Craig, DCC applied on behalf of the county for FTZ status in July of 2012 to create more opportunities for businesses to compete in the global market. An FTZ allows companies to produce or store goods in the U.S. as though those goods are outside U.S. commerce. "This is a great opportunity for Chenango County. It is great for the businesses that are here, and for the ones that we hope will come here," said Craig. DCC's economic development coordinator Rebecca Sands said, "Foreign-Trade Zone businesses that release their products for sale in the U.S. would pay the lowest duty fee, and those who export their items do not pay any duty fees." Alvogen/Norwich Pharmaceuticals and CWS were included in the county's application as Usage Driven Sites, meaning they have the authority to operate in the zone upon activation of their sites. The companies will work with U.S. Customs & Border Protection, Syracuse, NY Port of Entry to adhere to federal regulations, and they will have three years to activate. Jason Lasicki, Sales Manager at CWS, discussed how the FTZ could affect his business. "Operating within a Foreign-Trade Zone will further enhance the strategic relationships developed with our current customer base, as well as increase the potential to create relationships with our targeted prospects," said Lasicki. Steve Kondracki, Vice President, Supply Chain at Alvogen/Norwich Pharmaceuticals said, "We believe the establishment of the zone will help us grow our Norwich, NY operations. We currently source products from all over the world and having a Foreign-Trade Zone is going to give us a strategic advantage in the pharmaceutical industry."