Associated Industries today sent a letter to the Florida Senate voicing its strong support for Senator Dorothy Hukill’s SB 518, which would provide Florida manufacturers with sales tax exemptions on the purchase of manufacturing equipment.
This measure, supported by Gov. Rick Scott, would, argues AIF, level the playing field for Florida manufacturers currently facing higher tax burdens than those in other states and across the globe.
“Florida has the opportunity to benefit from a national manufacturing renaissance and realize incredible economic and job gains by passing legislation that will create a more business-friendly climate for manufacturers,” said Tom Feeney, AIF President and CEO. “As the state affiliate of the National Association of Manufacturers, we urge the Senate to pass Sen. Hukill’s bill cementing the Florida manufacturing industry’s ability to expand, create high-wage jobs and attract new manufacturing business to the state. We must push Florida forward and take our place as a strong national and international manufacturing competitor.”
Eliminating this tax saves Florida manufacturers approximately $141 million annually and, its supporters argue, enables them to redirect these funds to capital investments, facility upgrades, expansion, raises for current employees and new jobs for Floridians.
“A manufacturing resurgence is just around the corner if policymakers implement pro-growth solutions that will spur investment and job creation. Lowering the tax burden on manufacturers is a key component to accomplishing that goal. Manufacturers in Florida, and across the U.S., are looking to policymakers for action to jumpstart this resurgence. If they can adopt a true growth agenda, we will achieve the sustained economic recovery we’ve been looking for,” said Aric Newhouse, National Association of Manufacturers Senior Vice President of Policy and Government Relations.
Florida’s manufacturing sector creates an impressive three indirect jobs for each of its existing 325,000 direct manufacturing jobs.