Enterprise Saint John would like to see our area designated as a Foreign Trade Zone.
CEO Steve Carson says in Canada, the federal government has developed a program to designate Foreign Trade Zone points in various parts of the country.
Communities apply to become one of these points.
Carson says cities or communities that become Foreign Trade Zones can store, process or assemble goods for re-export.
These Foreign Trade Zones receive tariff and tax exemptions.
He uses an example of a company building bicycles where parts are brought in across the world and assembled here.
Carson says the bicycles that are exported to the United States do not face taxes or duty, they would be deferred.
Saint John, Grand Bay, Rothesay and Quispamsis have all agreed to write letters of support in hopes of becoming a Foreign Trade Zone.
