Florida TaxWatch Makes the Case for Cutting Manufacturing Taxes

On Wednesday, Florida TaxWatch released a report showing how the state’s economy would be hurt if the manufacturing sales tax exemption expires. 

“Florida’s manufacturing sector is vital to diversifying the state economy, and provides high wage jobs and a stable income stream,” said Dominic Calabro, the president and CEO of Florida TaxWatch. “The manufacturing machinery and equipment sales tax exemption incentivizes the growth of the manufacturing industry and helps make Florida competitive with other states.”

Florida TaxWatch noted other states in the region provided more incentives while the Sunshine State lagged behind them on manufacturing. 

“The manufacturing sales tax exemption is working to boost the state’s manufacturing sector,” said Steve Petty,  Florida TaxWatch’s chief economist. “Allowing the exemption to expire would put Florida further behind in manufacturing and could hinder our state’s efforts to diversify the economy and ensure Floridians have access to high-skill, high-wage jobs.”

The report can be read here.