Continuing to focus on creating jobs and opportunities for Florida families, Governor Rick Scott today highlighted his plan to eliminate the sales tax that manufacturers pay when purchasing equipment in Florida. The Governor toured .decimal, a medical device company that manufacturers radiation therapy products to treat cancer patients throughout the United States.
The Governor’s proposed tax cut will help Florida’s economy continue its extraordinary momentum. Since Governor Scott has taken office, Florida’s private-sector has created over 320,000 jobs, and the state’s unemployment rate has fallen from 11.1 to 7.5 percent, below the national average.
Governor Scott said, “The steps we have taken over the last two years to turn Florida’s economy around are working. We have lowered taxes, eliminated regulation and paid down state debt, and Florida’s economy has grown tremendously. Cutting taxes for manufacturers who are looking to expand in our state is one way we can ensure that our economic growth continues. It was great to visit .decimal today and see the products they manufacturer to help those battling cancer.”
Richard Sweat, President and CEO of .decimal said, “Without a doubt, this sales tax relief for manufacturers can make all the difference in helping companies like .decimal be more competitive in our markets, help us hire and train employees on the newest technologies, and also positively impact our local governments through increased tangible property taxes. Companies, citizens, and communities all win.”
Governor Scott’s proposed tax cut will help create more manufacturing jobs in Florida, an area where the state lags behind. Florida’s 4.2 percent manufacturing employment figure put it at the bottom of its southeastern competitors, and at the bottom ten in the nation at 43rd. No other state in the Southeastern United States ranks lower than Florida in manufacturing employment as a percentage of total employment or in percentage of gross state product that comes from manufacturing.