Tuesday, September 30, 2014

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Schumer and Owens want FTZ application reviewed

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CNY/NNY/S. Tier: Schumer and Owens want FTZ application reviewed
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JEFFERSON COUNTY, N.Y. -- A Jefferson County business says it's ready to expand and create new jobs, but the trade zone status it needs to do so has been up in the air for more than a year.

North American Tapes, which is the second largest manufacturer of hockey tapes in the world, has applied for Foreign Trade Zones status. That means it could stop paying taxes on the materials it uses, some $13,000 a month, taxes that a similar Canadian company does not pay.

The company says it's can't afford the duties and still expand, increasing its workforce by 50 percent.

Senator Charles Schumer and Congressman Bill Owens have both toured the facility recently and say they want the Commerce Department to do something and do it fast, saying the company has waited long enough.

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