April 13, 2024

Florida TaxWatch Press Release

Florida TaxWatch partners with FloridaMakes, focuses on manufacturing industry's future growth with new technologies

| 3/7/2024

Tallahassee, Fla. – Today, in partnership with FloridaMakes, Florida TaxWatch presented Unleashing Digital Transformation: 2023 MakeMore Manufacturing Summit Summary Report. The fifth annual MakeMore Manufacturing Summit’s theme, “Unleashing Digital Transformation,” focused on how the manufacturing industry can create greater value and profitability by continuously deploying new technologies.

Florida TaxWatch Executive Vice President & General Counsel and Acting President & CEO Jeff Kottkamp said, “Florida’s manufacturing sector is a key driver of future job growth and economic strength, providing high-wage, high value jobs for men and women across the state. Florida TaxWatch is honored to continue our longtime support of this critical industry through our participation in the MakeMore Manufacturing Summit and by presenting an overview of the summit and its findings in this report. We look forward to working with policymakers and stakeholders to move the needle on manufacturing-related challenges and opportunities in the months and years ahead.”

FloridaMakes CEO Kevin Carr said, “Florida's economic prosperity hinges on the collaborative efforts of our manufacturing stakeholders. This MakeMore Manufacturing Report underscores our commitment to advancing the state's manufacturing economy through strategic partnerships and innovation."

According to the report, the number of Florida-based manufacturers recently passed the 25,000 threshold, making Florida a manufacturing state. These manufacturers support more than 426,000 high-wage jobs, employing about 4.4 percent of the state’s workforce, with average salaries in excess of $74,575. In 2022, Florida ranked 12th among states for manufacturing gross domestic product (GDP), but ranked 31st in terms of productivity, or gross revenue per employee, with an average of $178,367 in economic output per employee – roughly $40,000 below the U.S. average of $218,271 per employee.

Florida TaxWatch notes that each year Florida operates below the U.S. average there is a negative impact on the state economy of approximately $16.3 billion, but this can be reduced by upskilling the manufacturing workforce, increasing the value of production, and accelerating the use of technology.

Regarding the workforce, from September 2013 to September 2023, the number of manufacturing jobs in Florida increased from approximately 326,300 to 422,800, an average of 9,600 new jobs each year. However, in order to rank among the top-five manufacturing states by 2030, Florida would have to create an average of 20,000 jobs each year.

Florida TaxWatch identified strategies that, if implemented, will go a long way toward establishing Florida’s identity as a manufacturing state, including:

  • Step up marketing and messaging efforts among manufacturers.
  • Utilize more nontraditional methods of building a robust and sustainable talent pipeline, such as apprenticeships, internships, and “boot camps.”
  • Get local manufacturing companies involved in schools.
  • Develop resilient and sustainable supply chains that are interactive and dynamic with networks of people, processes, and technologies.
  • Accelerate the adoption and implementation of Industry 4.0 technologies.
  • Make effective use of the Florida Legislature Manufacturing & Supply Chain Caucus.

For more information and to access the full report, please click here.  

About Florida TaxWatchAs an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute, and the trusted “eyes and ears” of Florida taxpayers for more than 45 years, Florida TaxWatch (FTW) works to improve the productivity and accountability of Florida government. Its research recommends productivity enhancements and explains the statewide impact of fiscal and economic policies and practices on taxpayers and businesses. FTW is supported by its membership via voluntary, tax-deductible donations and private grants. Donations provide a solid, lasting foundation that has enabled FTW to bring about a more effective, responsive government that is more accountable to, and productive for, the taxpayers it serves since 1979. For more information, please visit www.floridataxwatch.org

 

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