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Florida TaxWatch Economic Commentary
Florida retail sales outpace the nation
Florida retailers are expected to exceed 2013 holiday sales this year.
Conclusion
After decreasing for the first time in history during three years of the Great Recession, Florida sales began increasing again in FY2010-11. Growth is steadily improving and the increases are now outpacing U.S. retail sales. Florida is also expected to continue to increase its retail trade over the next few years, as more Floridians are finding jobs, more tourism records are being set, and more people move to the Sunshine State. This will increase Florida’s General Revenue collections, making more money available for needed state programs and possibly enough to fund future tax cuts.
Florida depends on sales and use taxes for funding programs that benefit our citizens. As we approach our holiday season, Floridians should make efforts to shop with Florida companies that collect and remit sales taxes that benefit all of us in the Sunshine State.
TAXWATCH CENTER FOR COMPETITIVE FLORIDA ADVISORY BOARD
BOARD CHAIRMAN
SENATOR GEORGE LEMIEUX
Chairman of the Board, Gunster
BOARD MEMBERS
MR. JOHN B. ZUMWALT III
President, Thezumwaltcompany
Florida TaxWatch Chairman & Immediate Past Chair, CCF Advisory Board
WILLIAM E. CARLSON, JR
President, Tucker/Hall
"Florida retail sales outpace the nation"
MR. MARSHALL CRISER, III
Chancellor, State University System
Immediate Past Chairman, Florida TaxWatch
MR. DOUG DAVIDSON
Market Executive, Bank of America Merrill Lynch
MR. J. CHARLES GRAY
Chairman, GrayRobinson Law Firm
MR. JON FERRANDO
Executive VP & General Counsel, AutoNation, Inc.
GOVERNOR BOB MARTINEZ
Sr. Policy Advisor, Holland & Knight
MR. DAVE MCINTOSH
Trustee, BlueField Ranch Mitigation Bank Trust
MS. SHARON MERCHANT
President, the Merchant Strategy
MR. JAMES M. REPP
Senior VP, AvMed Health Plans
MS. MICHELLE A ROBINSON
President, SouthEast Region, Verizon
MR. DAVID A. SMITH
Former Chairman, Florida TaxWatch
MR. MICHAEL SOLE
VP for State Governmental Affairs, Florida Power & Light
Mr. NATHAN WILSON
Vice President, The Walt Disney Company
Economic Commentary written by
Jerry D. Parrish, Ph.D., Chief Economist, and Director of the Center for Competitive Florida, with assistance from Jennifer Linares, MS, Research Analyst.
Robert Weissert, Chief Research Officer
Chris Barry, Director of Publications
John Zumwalt, III, Chair, Florida TaxWatch
Sen. George LeMieux Chair, Center for Competitive Florida
Dominic M. Calabro, President, CEO, Publisher, and Editor
Florida TaxWatch Research Institute, Inc.
www.floridataxwatch.org
Copyright © Florida TaxWatch, November 2014
