Trademark Global, Port of Cleveland create Lorain County's first foreign trade zone

Trademark Global, a consumer goods supplier and warehouse business in Lorain, is now operating Lorain County's first foreign trade zone. The new foreign trade zone, or FTZ, was activated Jan. 27 in partnership with county officials, the Port of Cleveland and U.S. Customs & Border Protection. Located at 7951 W. Erie Ave. on Lorain's west side, Trademark Global has more than 1 million square feet of warehouse space in multiple states, according to its website. It houses products for retail customers including Walmart, Amazon, Wayfair, Target, Overstock.com, Bed Bath & Beyond, Staples and Kohl's among others. The company also makes custom bar room and art products. According to the Port of Cleveland, the new FTZ will help Trademark Global defer tariff payments, support e-commerce distribution and warehousing. It also will allow other local businesses to take advantage of the benefits of the FTZ without needing to create their own. One to two full-time jobs are expected to be created for every 1,000 pallets of products stored by Trademark Global. "Trademark Global is proud to have the first FTZ in Lorain County, Ohio," company Chief Financial Officer Jason Dietz said in a news release. "With it, we have made our business more resilient to the economic climate, improved our working capital, and will offer FTZ economic benefits to other businesses where we can mutually benefit." Lorain County Commissioner David Moore called the new FTZ "an important step forward for Lorain County's economic growth." "The activation of our first foreign trade zone strengthens our ability to attract new investment, support existing businesses and enhance the county's competitiveness in the global marketplace," Moore said in the news release. "We are proud to partner with the Port of Cleveland on an initiative that creates new opportunities for job creation and long-term regional prosperity." Through its FTZ grant and the addition of Trademark Global, the Port of Cleveland now oversees a multicounty network of 28 sites and 11 clients it helps improve logistics, reduce tariffs on goods transported across international borders and makes the region more competitive. "This designation reflects our continued commitment to helping communities and companies throughout Northeast Ohio unlock the advantages of the FTZ program," said Dave Gutheil, chief operating officer of the Port of Cleveland.