Congratulations on being approved as a Foreign Trade Zone.
“The Commerce Department’s Foreign Trade Zone Program provides local businesses with the opportunity to grow exports and jumpstart businesses in our local communities where we need them the most,” said Senator Gillibrand. “This is an investment in the longevity of New York’s economic growth; and we must equip local businesses like Townsend Leather with tools to better compete in the global economy.”
“Townsend Leather is excited for the opportunity to become a Foreign-Trade Zone,” says Tim Beckett, Senior Vice President for Townsend Leather. “The FTZ allows us to control costs on our raw material. These savings will help offset the rising costs of health insurance, minimum wage increases and NYS taxes so we can continue to invest back into our people.”
“We are excited to have Townsend as part of the Capital Region Foreign-Trade Zone,” said Sean Maguire, Director of Economic Development for the Capital District Regional Planning Commission. “As a well-established local manufacturer, Townsend represents the type of business that we’re interested in having in the program. We expect that this FTZ designation will open new opportunities for Townsend right here at home.”
[ Original Images via Townsend Leather ]