JOC Staff | Jan 10, 2013 2:28PM EST
The U.S. Department of Commerce Foreign-Trade Zone Board gave approval to the Toledo-Lucas County Port Authority in Ohio, the grantee of Foreign Trade Zone 8 since 1971, to reorganize and expand the zone under the "alternative site framework."
The decision allows the port to provide services to businesses in Sandusky, Henry, Wood, Lucas and Defiance counties, in and adjacent to the Toledo-Sandusky Customs and Border Protection port of entry.
Congress created the FTZ program in 1934 to reduce or eliminate certain trade costs that do not exist in foreign locations, to encourage companies’ expansion in the U.S.
