Minister Joly and Parliamentary Secretary Terry Sheehan announce Foreign Trade Zone Point designation to help boost exports and create trade opportunities in the Sault
Strategically located at the heart of the Great Lakes, Sault Ste. Marie, Ontario is ideally situated to foster trade between Canada and the U.S., two countries with the largest two-way trading relationship in the world. Boasting land, rail, air and seaway entry points, this major transportation hub offers unparalleled access to global markets, including more than 60 million consumers within 800 kilometres.
That is why today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for FedNor, along with Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary for FedNor, announced Sault Ste. Marie’s official designation as a Foreign Trade Zone (FTZ) Point. The designation is designed to bolster Sault Ste. Marie’s position as a great place to do business, create jobs and invest.
“By designating Sault Ste. Marie as the first Foreign Trade Zone Point in Northern Ontario, we are helping the area access global markets and attract investments. This, in turn, will create local jobs, boost trade and export opportunities for existing businesses while reinforcing the community’s position as a integral hub and a key contributor to the economy.” – The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedNor
As the first FTZ Point in Northern Ontario and one of 15 in Canada, the designation will help spur trade and enhance Sault Ste. Marie’s position as a multi-modal transportation hub. In addition, the area will be more attractive to businesses and foreign direct investment by offering a single point of access to resources and information relating to programs that relieve duties, tariffs and taxes for businesses engaged in importing and exporting.
“Today’s announcement is great news for Sault Ste. Marie which is a key point of entry for many goods. The FTZ Point designation will build on the area’s natural strengths while presenting new opportunities for trade for the region’s advanced manufacturing and emerging industries. This stamp of approval will help Sault Ste. Marie on the path to a strong recovery for years to come.” – Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Economic Development and Official Languages and Minister responsible for FedNor
FedNor played a key role in helping to assess and engage with city partners to achieve the FTZ Point designation and will continue to play a role as it is established. This announcement further demonstrates the Government of Canada’s commitment, through FedNor, to creating opportunities for businesses and helping them on a path to sustainable growth and success.
“Sault Ste. Marie’s geographic location and skilled work force position our community to benefit from increased cross border commercial business, and the FTZ Point designation represents a new option to market and promote our advantages. I want to recognize the Government of Canada for assisting our efforts through this designation.” – Christian Provenzano, Mayor of Sault Ste. Marie