The Southwest Regional Manufacturers Association (SRMA) officially commends Governor Rick Scott’s support of the manufacturing industry by signing the permanent sales tax exemption on manufacturing machinery and equipment in HB 7099, the Tax Package effective July 1, 2016. SRMA is pleased that its efforts, alongside those of Florida’s other regional manufacturing associations and the Manufacturers Association of Florida, succeeded in highlighting the importance of making a temporary exemption that was in place permanent.
The measure that is included in House Bill 7099 was originally sponsored by Senator Dorothy Hukill and Representative MaryLynn Magar. Manufacturing is an industry that offers careers in a variety of skillsets, with advances in state of the art technology, and an average annual salary of more than $55,000. As of October 2015, manufacturing had added more than 5,000 jobs over the year, thanks in part to the temporary sales tax exemption on machinery and equipment that was passed in 2014. The temporary exemption was scheduled to expire in 2017.
SRMA board member Peter Bagwell, said, “The businesses and economy in Southwest Florida are really going to benefit from this type of legislation. Helping manufacturers is a big part of what SRMA does, and supporting an effort to reduce the tax burden helps all manufacturers here – big and small.”
Doug Gyure, owner of Cape Coral-based S4J Manufacturing, said, “As this industry sector becomes an increasingly important driver of economic development in Southwest Florida, it is crucial that we have a voice to represent the particular concerns of our local manufacturers. SRMA makes our state’s manufacturing association strong.”
Brian Rist, owner of Storm Smart Solutions Industries in Fort Myers, said, “When we have a permanent sales tax exemption on manufacturing machinery and equipment, it helps us grow our businesses. A strong manufacturing community will help diversify and stabilize the economy of Southwest Florida.”
To discover the many benefits of membership in SRMA for manufacturers and affiliate businesses, visit srma.net.
About the Southwest Regional Manufacturers Association
The purpose and objective of the Southwest Regional Manufacturers Association is to bring together manufacturers to encourage the economic development of Southwest Florida through manufacturing, and to act as a forum for the expression and exchange of ideas and information among its members. The SRMA provides the platform to promote the general welfare of our members in relation to economic, civic, and educational challenges. We encourage the cooperative interchange of information and assistance in all matters of mutual interest, fostering social relationships and community involvement among our membership. Visit srma.net for more information.