Ports & FTZs: Expand The Reach Of Commerce

Support from federal and local governments has allowed ports across the United States to increase its import and export capabilities. 

Oswego County, New York: Home To The Port Of Oswego

Situated in central New York, Oswego County is located proximally to New York City, Boston, Philadelphia, Cleveland, Toronto, and Montreal. Yet, Oswego County has more to offer industries than an attractive location within hours of every major northeast market.

Oswego County has many options for multimodal transport of raw materials, parts, and products. The various combinations of transport are ideal for materials import and product export. What is unique to Oswego County is a port, with the ability to ship internationally.

Ports and Foreign Trade Zones
Ship entering the Oswego Harbor in route to the Port of Oswego in upstate New York. (Photo: Port of Oswego)

The Port of Oswego, a deepwater port on the southeastern shore of Lake Ontario, provides a major logistical advantage to the industry in Oswego County and the Central New York region. As the first port of call and hub in the Great Lakes St. Lawrence Seaway System, it is part of over 2,300 miles of water transportation from Duluth, MN to the Atlantic Ocean. The Port of Oswego can accommodate on-dock rail and truck loading, making for a smooth transition of goods to market.

As one of four contiguous counties forming Foreign Trade Zone 90, Oswego County is aligned for the convenient and cost-effective production of goods. The Port of Oswego Authority (POA) is now also a Foreign Trade Zone (FTZ) for goods arriving by ship, truck, or rail. The Port’s FTZ is under the umbrella of Foreign Trade Zone 90. FTZ 90 acts as a conduit to the Port of Oswego and other zone partners for business growth and expansion.

As an FTZ, the port can offer many benefits to businesses. Goods can be stored in an FTZ indefinitely, as opposed to a limited time in a bonded warehouse. Those goods are not subject to quota restrictions and can be entered into U.S. commerce at any time. In addition, if goods become obsolete or pass expiration while in a FTZ, they can be destroyed without paying any duty on them. Other advantages for businesses include streamlining their logistics and the ability to closely track their inventory.

Additionally, companies can establish manufacturing operations within an FTZ, and any scrap or byproducts would not be subject to duty fees. For businesses that haven’t been able to justify the upfront costs of applying for an FTZ, there would now be savings by taking advantage of the Port’s FTZ to bypass those costs.

The Port recently signed an agreement with the Army Corps of Engineers to deepen the Oswego Harbor near the port. This will expand the Port’s capabilities and spur growth. Upon completion, the Port would be capable of accepting shipments from Seawaymax Class freighters.

The Port of Oswego had a record year in 2022, with shipping alone up over 300% compared to 2021. Its strategic location at the crossroads of the northeastern North American shipping market, puts them less than 350 miles from 60 million people. Products can get anywhere they need to go, nationally or internationally, from the Port of Oswego and Oswego County, NY.

Visit portoswego.com for more information.

Continue reading…


Please enter your comment!
Please enter your name here