Florida TaxWatch conducted a study on the total contribution to the state of Florida of its manufacturing sector that used the REMI econometric impact model to analyze the manufacturing sector’s future potential effect on Florida’s economy. Analysts developed three potential scenarios to assess the sector’s future, which were a current trends continue scenario, a tax incentive repeal scenario, and a 10 percent Capital Investment Incentive scenario. Upon review of the current economic conditions and potential fiscal outlook scenarios, Florida TaxWatch recommended that the Florida Legislature retain the current sales and use tax exemptions on which Florida’s manufacturing sector depended as a primary method of remaining a viable and competitive source of commerce, employment, and above average wages in the state.
Florida TaxWatch – Economic Impact Analysis of Florida’s Manufacturing Sector [full PDF]
