Edmonton designated as a Foreign Trade Zone
Reductions in trade barriers will support Edmonton Metro Area business growth
(Edmonton, AB) - Businesses from the Edmonton Metro Area as well as Western Canada and the Canadian North will soon benefit from reduced trade barriers thanks to Western Economic Diversification's establishment of a Foreign Trade Zone (FTZ) Point at Edmonton International Airport (EIA). The new FTZ will help Port Alberta, of which EIA is partner, boost foreign investment in the region.
A FTZ Point is a strategic location identified for international trade and foreign direct investment, supported by the federal government, acting as a single point of access to information on relevant government policies and programs. FTZ Points are utilized by investors around the world and are important drivers of international trade. As Edmonton is the key transportation and supply chain hub for the Energy, Manufacturing and Industrial sectors in Western Canada, FTZ designation positions Port Alberta to attract new business and foreign investment.
"No other major city in Western Canada offers the same transportation, access or warehousing advantages as the Edmonton Metro Area, so the new Foreign Trade Zone in Edmonton will help companies involved in value-added work become more globally competitive and drive new trade opportunities," says Brad Ferguson, EEDC President and CEO. "In partnership with Edmonton International Airport (EIA), Leduc County and Enterprise Edmonton, Port Alberta welcomes the opportunity to support regional, provincial, national and international companies to realize the competitive growth benefits of Canada's FTZ advantages."
"We are very grateful to Western Diversification for this boost to trade in our region," says Tom Ruth, President and CEO of EIA. "This FTZ will increase our ability to integrate transportation assets with major sectors such as energy, manufacturing, agriculture and health sciences, which will drive our region's job creation and attract air service."
EIA, a Port Alberta partner, has enjoyed recent international trade success, including adding international access and cargo capacity through Icelandair and KLM. Cargojet also expanded to wide-body operations and doubled frequency at EIA, DHL launched a new commercial route to Edmonton and FedEx increased daily air service with a wide-bodied air freighter between EIA and their world hub in Memphis, TN. Braden Burry Expeditors (BBE) moved in to a new facility in EIA's Cargo Village, two times the size of its old one, with international air cargo, multi-modal cargo and support to Northern Canada's development.
As well, Canada Border Services Agency moved to its new combined warehouse and inspection space, enabling the agency to conduct any required inspections of cargo on-site. Construction is underway for a 211 000 square foot facility to support Rosenau Transport Ltd., and for an additional warehouse development of 100,000-plus square feet. EIA's multi-million dollar cargo apron expansion is operational and capable of handling the world's largest aircraft.