Florida Manufacturers celebrate the elimination of sales tax!

April 30, 2014

Today, Florida celebrated the elimination of the manufacturing and equipment sales tax on Florida’s manufacturing companies. The new law is to encourage manufacturing companies to grow and locate in Florida. According to Enterprise Florida the elimination of the tax is expected to save the more than 18,000 manufacturing companies in the state approximately $141 million annually. "The elimination of the manufacturing machinery and equipment sales tax removes a big hurdle for economic development in Florida,” said Secretary of Commerce and president and CEO of Enterprise Florida, Gray Swoope. “The removal of the tax levels the playing field as we compete with other states in the Southeast for manufacturing jobs. When you combine the elimination of the tax with our strong workforce, top-ranked infrastructure and global access, Florida makes a very compelling case as a state that businesses must look at for location and expansion opportunities.” Florida manufacturers are a powerful economic engine for the state’s economy. In addition to removing the unnecessary tax on manufacturers, Florida’s strong workforce and top-ranked infrastructure make it the perfect state for manufacturers. Florida ranks among the top 10 states for establishments manufacturing a wide range of goods, including aerospace products, batteries, food and beverages, communications equipment, pharmaceuticals, semiconductors, boats and more. Image Source: Tampa Bay Partnership