Tampa, Fla. –The Board of Directors of the Greater Tampa Chamber of Commerce unanimously passed a motion to support a sales tax exemption for the purchase of new manufacturing machinery. According to Florida TaxWatch, manufacturing has the highest “economic multiplier” of any Florida industry, which means that creating one manufacturing job creates more indirect and induced jobs that any other industry. Eliminating the tax would save manufacturers $141 million annually, allowing more money to be spent on job creation, expansion and capital investments. “Florida has the opportunity to lead the world in manufacturing, but our current tax on manufacturers prevents us from capitalizing on that opportunity. With such an overwhelming percentage of potential customers outside of the United States, we are an ideal international gateway,” said Bob Rohrlack, president and CEO of the Greater Tampa Chamber of Commerce.
“As the owner of a manufacturing firm, the sales tax we recently paid on equipment could have gone to salaries for one or two individuals to run those pieces of equipment. Eliminating the sales tax on manufacturers will provide a boost to companies, allowing them to invest more in human capital,” said Jamie Harden, President & CEO of Creative Sign Designs. In addition to job creation, increasing capital expenditures is of vital interest as Florida currently ranks 49th in capital expenditures on manufacturing, spending less than one-fifth of the average of the top ten states. As the voice of business in the Tampa area, the Chamber supports a sales tax exemption for the purchase of new manufacturing machinery as a way to grow our local and state economy.
For more information on the Greater Tampa Chamber of Commerce, please visit www.tampachamber.com.
About the Greater Tampa Chamber of Commerce
The Greater Tampa Chamber of Commerce is committed to serving our members and enhancing our community by building business success. The Chamber provides a greater return on investment and involvement by providing innovative leadership, inside access, influential advocacy and increased opportunities.