Niagara Centre Liberal MP Vance Badawey supports the FTZ designation.
On April 15, the Government of Canada announced "the designation of the Niagara Foreign Trade Zone (FTZ) Point, serving the region's 12 municipalities from east of Hamilton to the United States border." According to the media releases, "This is the first FTZ Point established in Ontario."
The federal government claims, "The FTZ Point will promote Niagara as a hub for international trade and will attract foreign and domestic investment."
The Welland Tribune reports, "The designation announced last week — the culmination of a decade of work by local economic development organizations — gives the region a competitive edge in luring investment, by offering easier access to government programs allowing qualified companies the ability to defer taxes and tariffs charged on goods being imported."