Target Business Sectors

Manufacturing

Manufacturing, one of the region's strongest high-wage sectors, accounts for 72,000 jobs in the Miami-Fort Lauderdale metro region, according to the Manufacturers Association of Florida. 

Thanks in part to its leading business climate, workforce, and trade and transportation infrastructure, Florida ranks among the nation’s top 10 states for manufacturing and is home to more than 18,600 manufacturing companies. The state’s 321,000+ manufacturing employees produce a wide variety of goods including aerospace products, batteries, food and beverages, communications equipment, pharmaceuticals, semiconductors, boats, and more. 

Some of the products manufactured by companies in Greater Fort Lauderdale include:

Manufacturing companies located in Greater Fort Lauderdale include Allergan, Boca Flasher, Bolton Medical, Bosch, Cayago AG, Florida Supplement, Great Healthworks, HEICO, Hoerbiger Corporation, Hollywood Woodwork, JL Audio, Motorola, Point Blank Enterprises, Propulsion Technologies, SIMTEC Silicone Parts, Stretch Wrap Packaging, Stryker, Syntac Coated Products, Trividia Health and Valley Forge Fabrics.

Tax Advantages

A stable and highly favorable tax climate enhances profitability for a wide variety of businesses looking to grow and prosper in a Florida location.

Florida has . . .
• NO corporate income tax on limited partnerships
• NO corporate income tax on subchapter S-corporations
• NO state personal income tax guaranteed by constitutional provision
• NO corporate franchise tax on capital stock
• NO state-level property tax assessed
• NO property tax on business inventories
• NO property tax on goods-in-transit for up to 180 days
• NO sales and use tax on goods manufactured or produced in Florida for export outside the state
• NO sales tax on purchases of raw materials incorporated in a final product for resale, including non-reusable containers or packaging
• NO sales/use tax on boiler fuels
• NO sales/use tax on co-generation of electricity

Florida Offers Sales and Use Tax Exemptions On . . .
• Semiconductor, defense and space technology-based industry transactions involving manufacturing or research equipment
• Purchases of machinery and equipment used by a new or expanding Florida business to manufacture, produce or process tangible personal property for sale
• Labor, parts and materials used in repair of and incorporated into machinery and equipment that qualify for sales tax exemption upon purchase
• Electricity used in the manufacturing process
• Aircraft parts, modification, maintenance and repair, sale or lease of qualified aircraft
• Commercial space activity – launch vehicles, payloads and fuel, machinery and equipment for production of items used exclusively at Spaceport Florida
• Labor component of research and development expenditures
• Any facility, device, fixture, machinery or equipment required for pollution control, abatement or monitoring of equipment used in manufacturing processing or compounding items for sale.

Comparative Costs for Manufacturing Companies in Florida vs. Other Markets

  Florida                Alabama                 Georgia                  Illinois                North Carolina            South Carolina           Texas                   
Personal Income Tax Rate
(Highest Rate)
None 5.00% 6.00% 3.75% 5.80% 7.00% None
Corporate Income Tax or Gross Receipts Tax Rate* (Highest Rate) 5.50% 6.50% 6.00% 9.50% 6.00% 5.00% *1.00%
State Business Tax Climate Ranking 4 28 36 31 16 37 10
Private Sector Manufacturing Union Membership 3.40% 12.00% 3.50% 10.70% 2.50% 3.50% 5.60%
Manufacturing Average Wage $54,086 $50,962 $53,980 $54,555 $53,268 $68,868 $70,580

 

For more information about manufacturing in South Florida, visit the South Florida Manufacturers Association website at www.sfma.org.

For manufacturing business location and expansion information, please contact Todd Holt, the Alliance's Director of Business Development at 954-627-0124 or via email at tholt@gflalliance.org.