Why Manufacturing is Important for Florida’s Economy

May 1, 2014

Fun Facts about manufacturing in Florida:

• More economic activity is gained for investments in manufacturing than in any other industry in Florida.
• Each dollar invested in manufactured goods creates $1.43 of activity in other sectors—a multiplier that is double that of the service sector in Florida.
• Florida private-sector average annual wages for manufacturing were more than $50,000 per capita, compared to slightly more than $40,000 per capita for all Florida private-sector average annual wages.
• Florida manufacturers and exporters are a powerful combination for the state’s economy. Manufacturing accounts for 85% to 90% of Florida’s exports.
• Manufacturers in Florida account for 5.1 percent of the total output in the state,employing 4.3 percent of the workforce.
• Since 2000, Florida manufactured exports grew 148% while the national average was a 90% increase.
• Florida ranks first in the nation in Manufacturing Export Intensity, the percentage of our total manufactured goods that are exported.