November 10, 2020, by Don Mitchell
Hamilton will now be one of Canadaâ€™s 14 FTZs and Ontarioâ€™s third port of entry for commercial merchandise, both domestic and foreign, reducing duties, tariffs and taxes on foreign imports and exports.
Canadaâ€™s minister of economic development says Hamiltonâ€™s new designation as an official Foreign Trade Zone (FTZ) point will create â€œa one-stop-shopâ€ for local businesses who want to export abroad.
MÃ©lanie Joly announced the cityâ€™s new status during a virtual conference on Tuesday in addition to a federal government investment of $3.9 million in local packaging manufacturer Whitebird.
Forty-five new jobs are expected to come out of this investment.
What does this mean?
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