Shipping, Dredging, and Waterfront Property
The Lorain Port Authority is an active commercial port, maintained as a deep water navigational channel through dredging, providing an ideal environment for industrial development and growth.
LPA Wins ‘Pacesetter Award’
The Lorain Port Authority and five other U.S. ports in the Great Lakes region were awarded the 2017 ‘Pacesetter Award‘ from Saint Lawrence Seaway Development Corporation.
Lorain Shipping Activity
The 2017 Port of Lorain Water Shipment Information consisted of three vessels: Jonick Dock & Terminal, Amcor Corporation and Terminal Ready Mix. The Jonick Dock & Terminal carried Coke Breeze, Coke Furnace, Coke Nut, Mill Scale, Salt and Slag. Amcor Corporation carried Potash and Salt. Terminal Ready Mix carried Limestone, Sand and Gravel.
Foreign Trade Zone
Lorain is part of Foreign-Trade Zone 40. The U.S. Foreign-Trade Zone (FTZ) program is a unique global supply chain management tool that assists U.S. companies engaged in international trade by offering significant, ongoing cost savings to help them be more competitive in a global market. The FTZ program was created in 1934 by Congress as an incentive to encourage companies to keep investment and jobs in the United States. A FTZ is a designated area within the US that is considered to be outside the stream of international commerce. Certain types of merchandise may pass through into the zone without being subject to customs or excise tax.
There are two types of zones: General Purpose Zones and Subzones. General Purpose Foreign-Trade Zone site is established to accommodate a number of companies and multiple activities. It is typically defined as an industrial or commercial park. Public warehouse operations also operate as General Purpose FTZ’s. A Subzone is a special purpose zone established for a single company.