THE PORT AUTHORITY OF NY & NJ
Press Release Article
TWO MAJOR NEW JERSEY BUSINESSES GRANTED
FOREIGN TRADE ZONE STATUS TO EXPAND JOBS IN THE REGION
Date: Nov 14, 2006
Press Release Number: 95-2006
Two New Jersey firms – Van Brunt Port Jersey Warehouse, Inc., a Port Authority warehouse tenant, and SalSon Logistics, Inc., a third-party public warehousing company – have been granted Foreign Trade Zone status to help them expand their businesses and add jobs.
Both companies were granted this status within the Port Authority-administered Foreign Trade Zone No. 49. The status provides firms with lower insurance costs, the ability to shorten transit time for their deliveries by removing delays from U.S. Customs clearances, and the ability to defer duty rates or eliminate them entirely if the goods are reshipped out of the country.
Port Authority Port Commerce Director Richard M. Larrabee said, “This zone is a valuable economic asset for the port community, supporting approximately 9,800 jobs in the region. The continuing expansion of this zone greatly benefits the region’s economy and improves the bottom line for companies that locate their operations in the zone.”
Van Brunt Port Jersey Warehouse is a family-owned company that has been involved in the import business for more than 80 years. It initially received Foreign Trade Zone No. 49 status in 2002 to operate in Newark, N.J., and the new designation allows them to expand its operation to Elizabeth, N.J. Van Brunt specializes in storing and distributing all types of commodities, including alcoholic beverages, chemicals and apparel. The company also is a bonded warehouse and provides transportation services through its VBJ Transportation and Warehousing Company.
SalSon Logistics, based on a 23-acre site in Port Newark, provides warehousing, distribution and transportation services, including Web-based shipment tracking, rail service, air freight service, and interactive satellite tracking on their shipments. The company also provides in-house trucking. Its customers include Wal-Mart, Sports Authority, Dick’s Sporting Goods, Academy Sports and Burlington Coat Factory. In addition to Port Newark, SalSon also has terminals in New Windsor, N.Y.; Bay Shore, Long Island; Chicopee, Mass.; and Florence, N.J.
The 2,909-acre Foreign Trade Zone No. 49 has six designated sites that encompass the Port Newark/Elizabeth-Port Authority Marine Terminal complex; the Port Authority Auto Marine Terminal; the Global Marine Terminal; and Greenville Industrial Park, all in Jersey City, N.J.; an industrial park in Elizabeth, N.J.; a tank farm and fuel distribution system at Newark Liberty International Airport; a 23-acre site in Bayonne; and a 407-acre industrial site in South Kearny, N.J. Foreign Trade Zone No. 49 is among the most active in the nation. In federal Fiscal Year 2005, the zone received and forwarded $18.7 billion in foreign and domestic merchandise.
The Port Authority of New York and New Jersey operates many of the busiest and most important transportation links in the region. They include John F. Kennedy International, Newark Liberty International, LaGuardia and Teterboro airports; AirTrain JFK and AirTrain Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit system; the Port Authority-Downtown Manhattan Heliport; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.
The Port Authority is financially self-supporting and receives no tax revenue from either state.