Research and Development

By: Carolyn Johnson

 

 

Building Florida’s Innovation Economy Through Research and Development

 

Why It Matters to Florida

Florida’s ability to attract high-wage jobs and increase global competitiveness is front and center once again as the Legislature once again contemplates tax reform and its role in economic development.

Thanks to the efforts of the Florida Chamber, business leaders and legislative leadership, the Florida Legislature increased the R&D Tax Credit cap from $9 million to $23 million for one year in 2015, and modified the program to allow the credits to be pro-rated, instead of being awarded on a mad dash, first-come first-serve basis. The increased demand for this tax credit had in the past resulted in applications being denied, causing our state to lose out on important R&D and high-wage job creators.

Florida’s Competitiveness Agenda

The Florida Chamber supports increasing the current $9 million R&D Tax Credit cap— which has been exceeded every year — to help our state remain competitive and attract high-wage jobs.

The Fight for Free Enterprise Continues

At the Florida Chamber, we believe in innovation and spurring new technology and emerging industries. Learn how you can get involved by contacting cjohnson@flchamber.com.