Feds announce Windsor-Essex as new Foreign Trade Zone

Monday, July 31, 2017

CTV News




The federal government announced a new Foreign Trade Zone (FTZ) Monday that it says will create new jobs and business opportunities for Windsor-Essex.

Navdeep Bains, Minister responsible for FedDev Ontario, made the announcement in Windsor.

"More than half of North America's population lives within an eight-hour drive of Windsor-Essex so clearly this is a hub of economic activity and all major forms of transportation service exist within this region," he said.

The so-called FTZ point will promote Windsor-Essex as an international trade hub and will help local businesses access foreign market.

It is now the second FTZ point in Ontario.

Windsor-Essex Economic Development Corporation says information sessions will be held for local business in the next few weeks. Rakesh Naidu, its chief operating officer, says international businesses understand what FTZ can offer them in terms of programs and tax deductions.