Foreign-Trade Zone 181 Sets New Record

The numbers are in! Foreign-Trade Zone 181 was a factor in attracting over $33 million in capital investment and the creation/retention of 768 jobs during the annual period ending September 30, 2006.  Movement of goods has increased significantly over the same period last year.

Movement of Merchandise Comparison – Zone Activity

			2005	2006		Change
Received
	Domestic		2,880,858,845	3,553,933,434		+23%
	Import		419,439,382	422,126,947		+.6%
Total Received			3,300,298,227	3,976,060,381
Shipped
	Domestic		2,788,569,082	3,767,120,438		+35%
	Export		152,790,685	162,406,176		+6%
Total Shipped			2,941,359,767	3,929,526,614

 FTZ 181 went through a physical expansion in 2006 by adding new sites in Medina, Stark, Trumbull and Wayne counties, while expanding sites in Richland and Summit counties.   An application to add 200 acres in Youngstown and 30 acres in Warren is currently in process.

Medina County Expansion Sites include:

1. Beacon Transportation Park – Seville             111 acres

2. Brunswick Commerce Center – Brunswick        38 acres

3. Portside Corporate Park – Medina                   51 acres

4. Wadsworth Corporate Park – Wadsworth         47 acres

   “The designation of these four sites as Foreign-Trade Zones is an important step into the global marketplace for Medina County.  It makes our menu of economic development services all the more competitive.” 

   Jim Doutt, Executive Director
   Medina County Economic Development Corporation

   Stark County Expansion Sites include:

   1. I-77 & US 30 Center – Canton                                            5 acres

   2. Canton Commerce Development – Canton                       142 acres

   3. Dillard Property – North Canton                                         3 acres

    “More and more companies are looking globally when they decide to locate a new manufacturing facility.  When companies make these location decisions, they take into account all costs of manufacturing.  Having a Foreign-Trade Zone greatly increases our competitive ability in attracting these growing companies.”                            

                                                               Steve Paquette, President & CEO
                                                               Stark Development Board

   Trumbull County Expansion Sites include:

   1. River Road Industrial Park                                                258 acres

   2. Warren Commerce Park (temporary approval)                     20 acres

    “The new Trumbull County FTZ 181 sites are part of a comprehensive redevelopment strategy.  The land and buildings now available at the River Road Industrial Park are specifically targeted for firms engaged in global competition, looking to take advantage of our historic strengths in manufacturing and distribution.  An example is Leedsworld, Inc., whose new facility at the nearby Warren Commerce Park, expected to house some 460 employees, would not have been economically feasible without the benefits of an activated FTZ.”

                                                        Reid Dulberger, Executive Vice President
                                                        Youngstown/Warren Regional Chamber 

   Wayne County Expansion Site:

   Rt. 30 Industrial Park – Wooster                                             141 acres

   “Wayne County’s inclusion in Foreign-Trade Zone 181 allows us to better assist companies seeking innovative solutions to the many challenges associated with conducting international trade.  As more businesses look globally to grow, it is important that we have this resource in place for our existing companies as well as those who may be looking to make an investment decision here.”

                                                   Rod Crider, President
                                                   Wayne Economic Development Council, Inc.

The Northeast Ohio Trade and Economic Consortium (NEOTEC) is a regional economic development partnership including Ashtabula, Columbiana, Mahoning, Medina, Portage, Richland, Stark, Summit, Trumbull and Wayne counties, built to improve market access through the development of the Northeast Ohio Logistics Network and to promote international commerce through the administration of Foreign Trade Zone 181.