Sarnia–Lambton region designated as an official trade hub
The designation gives businesses and manufacturers easier access to federal trade incentive programs and allows them to market themselves as a hub for international trade.
The Canadian government has named the Sarnia–Lambton region in Ontario as an official Foreign Trade Zone (FTZ), giving local businesses easier access to federal trade incentive programs, including breaks on sales tax and deferrals on duty charges at the border.
The virtual announcement was made by local officials and Marie-France Lalonde, the parliamentary secretary to the minister of economic development and official languages.
The FTZ designation allows the region to coordinate programs that benefit businesses, such as the Duty Deferral Program, the Duties Relief Program, the Drawback Program, the Customs Bonded Warehouse Program and the Export Distribution Centre Program. It will also allow Sarnia–Lambton to market themselves as a hub for international trade and to provide coordinated access to government FTZ programs helping to attract more business and foreign direct investment (FDI) to the area.
Several industries serve the region, including mold, tool and die making, chemical refinement, and agriculture. Access to transportation and strong infrastructure make the FTZ point attractive for trade and exports, says the government in a statement.
“We are witnessing an industrial and environmental evolution,” Allan Calvert, chief executive officer of the Sarnia–Lambton Chamber of Commerce, said in a statement. “Beyond our globally recognized expertise in these areas, the ability to streamline the trade of goods and services beyond our borders is paramount in the sustainability and growth of our communities.”
The region is one of the busiest commercial land border crossings in North America, strategically located on the Ontario–Michigan border, and the Blue Water Bridge is Canada’s second-busiest crossing for commercial traffic.