For every 10 jobs created in Florida’s export-oriented manufacturing, 12 more jobs are created in transportation, warehousing and retail? With an additional eight jobs created in business services, there are a total number of 30 jobs supported by Florida export manufacturing. In fact, manufacturing has the highest jobs “multiplier” of any sector because it leads to the creation of more indirect and induced jobs in other sectors in the economy.
Simply put, expanding manufacturing in Florida diversifies the economy and provides high-wage jobs. In 2013, the Florida Legislature passed a three-year exemption from sales and use taxes on industrial machinery and equipment used in manufacturing in Florida. This exemption is expected to increase capital investment in Florida by manufacturers, improve productivity, and help Florida’s manufacturers compete better in world markets.
Florida needs manufacturing. Consider the facts:
- Florida is the 12th-highest state in number of people employed in manufacturing.
- Florida has 330,544 manufacturing employees, with an average annual wage of more than $54,000.
- Floridians receive $17.9 billion in manufacturing wages in Florida.
- There are 19,206 manufacturers in Florida – an increase of 696 over the last year.
- Manufactured Goods Exports in 2013 equal $56.4 billion.
- Manufacturing’s Share of Florida’s Exports in 2013 was 93.3 percent.
Besides diversifying the economy, manufacturing firms perform around 70 percent of U.S. Industry Research and Development, even though manufacturing accounts for only about 11 percent of the U.S. economy.
“The impact Florida’s manufacturing industry has on our state’s small businesses is undeniable,” said Michael Myhre, Network State Director for Florida’s Small Business Development Center (SBDC) Network. “Manufacturing helps diversify Florida’s economy and helps create high-wage jobs for Floridians. When Florida remains competitive, small businesses succeed.”
Beginning today, the Manufacturers Association of Florida is hosting their annual Manufacturing Days event in Tallahassee this week. Manufacturing Days will feature speakers on topics important to manufacturers including water policy, the sales tax exemption for manufacturing machinery and equipment, tax issues, and the Florida Chamber’s Legislative Priorities.
Share Your Manufacturing Story:
Is your community diversifying its economy by adding manufacturing companies and manufacturing jobs? How are your local and regional educational institutions helping prepare your workforce for the manufacturing jobs of the future? Tell us by contacting us at email@example.com.
About the Florida Scorecard Did You Know:
The Florida Scorecard, located at www.TheFloridaScorecard.com, presents metrics across Florida’s economy. Each month, the Florida Chamber Foundation produces a Scorecard Stat that takes an in-depth look at one aspect of Florida’s economy. If you would like additional information on the Weekly Scorecard Stat or on the Florida Scorecard, please contact Dr. Jerry Parrish with the Florida Chamber Foundation at 850.521.1283 or firstname.lastname@example.org. You can also follow the Florida Chamber Foundation on Twitter at @FLChamberFDN.