Share this article

print logo

Lackawanna foreign trade zone gets incentives for expansion

The Western New York Foreign Trade Zone in Lackawanna is getting nearly $360,000 in tax breaks through the Erie County Industrial Development Agency for a $1.8 million expansion project.

The trade zone plans to build a 20,000-square-foot addition to its existing warehouse operations at 10 Gates Ave., which are at full capacity.

The trade zone's customers – 60 percent of them from Canada – use the warehouse to store goods that are going to be imported or exported. Using a foreign trade zone can reduce, eliminate or defer duties on those products.

The operator of the trade zone, Punto Franco Ltd., also operates foreign trade zones in Syracuse and Tampa, Fla. The company had told agency officials it might look at putting the expansion in other parts of the state if the IDA did not provide tax breaks.

There are no comments - be the first to comment