11.04.13

AFTER PUSH, SCHUMER ANNOUNCES LIBERTY PUMPS SECURES THE FOREIGN TRADE ZONE MANUFACTURING STATUS NEEDED TO RETAIN AND GROW JOBS PUTS GENESEE COUNTY COMPANY ON LEVEL PLAYING FIELD WITH FOREIGN COMPETITORS

brIn March 2012, Schumer Urged the Commerce Department for Key Designation from the Foreign Trade Zone Board Designation Now Allows Liberty Pumps to Be Competitive With Foreign Manufacturers, Relieves Company from High Duties on Pump ComponentsbrbrbrSchumer: Savings Will be Pumped Right Back Into This Bedrock Genesee County Company To Expand Their Business Grow Jobsbrbr

Today, after his push with the U.S. Department of Commerce, U.S. Senator Charles E. Schumer announced that the Foreign Trade Zone Board has awarded Liberty Pumps, Inc., in Genesee County, the foreign trade zone (FTZ) manufacturing designation it needs to remain competitive with foreign manufacturers and expand production of pump products in New York.  Foreigntrade zones are designated sites in the United States, licensed by the FTZ Board under the jurisdiction of the Dept. of Commerce, where companies can benefit from delayed or reduced customs duties. The FTZ manufacturing designation for Liberty Pumps will potentially save the company thousands of dollars a month, which it can reinvest to grow its business.

 

In a March 2012 letter to the Andrew McGilvray, the Executive Secretary, ForeignTrade Zones Board, Schumer said that without FTZ manufacturing authority, Liberty Pumps was at a competitive disadvantage at home and abroad. At that time, Schumer called on the FTZ Board to grant Liberty Pumps' request for manufacturing authority which would allow Liberty Pumps to source the components it needs to make pumping products free of duties, lowering the company's costs and helping grow jobs in Genesee County.

 

"For over fifty years, Liberty Pumps has been a bedrock company for the Genesee County community - employing over 125 people - so I went to bat to get them the designation they needed to compete on a level playing field with foreign manufacturers.  Today, I'm pleased to announce that the Foreign Trade Zone Board has answered my call, and will grant Liberty Pumps the muchneeded Foreign Trade Zone manufacturing designation," said Schumer. "Now, with this designation in hand, Liberty Pumps is expected to save thousands of dollars a month in duties, which they can pump right back in their business-to expand production and grow jobs in New York."

 

Liberty Pumps is an independent, locally owned, and familyoperated manufacturer of pumping products for groundwater and wastewater removal used in both residential and commercial applications.  Founded in 1965, Liberty Pumps now employs over 125 people at its sole production facility located in Bergen, NY.  The share of imported pumps into the U.S. market has ballooned to 75% in just the last 510 years and Liberty Pumps must compete with Chinese, Mexican and other foreign manufacturers that enjoy significant cost advantages. Not only do competing foreign pump manufacturers have dutyfree access to components, their exports of finished pumps to the U.S. also are not subject to duties. Conversely without the FTZ, Liberty had to pay up to a 10.1 percent duty on imported components which meant Liberty Pumps did not have a level playing field to compete with its foreign competitors and instead had to pay on high duties for the components it uses in manufacturing finished pumps . Now with the FTZ manufacturing authority, Liberty Pumps has an even playing field to compete and can reinvest the savings to grow its businesses.

 

Liberty Pumps, a company in Genesee County that employs over 125 people, received a manufacturing designation from the Foreign Trade Zone Board, which will allow it to import components needed to produce its pumping products duty free. With FTZ Board approval, Liberty Pumps will realize a savings of thousands of dollars per month, grow jobs, and better compete with overseas manufacturers.  With this federal approval now granted, Liberty Pumps expects the FTZ will be operational this month following final testing and confirmation of its software system.   

 



Previous Article Next Article