Florida TaxWatch: BRIDG Analysis Highlights Importance of Florida’s Manufacturing Industry
TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released its latest report, BRIDG: Growing Florida’s Advanced Manufacturing Sector, analyzing the impact of advanced manufacturing in the Sunshine State and highlighting the importance of continued public investment in high-tech initiatives such as BRIDG, which diversify the economy, create jobs, boost wages, and increase local and state tax revenues.
Florida TaxWatch President and CEO Dominic M. Calabro said, “Even through our nation’s most trying times, we’ve seen that American innovation and ingenuity perseveres through manufacturing. Today, as we all fight through the Coronavirus pandemic, we know that it will again be manufacturers that pull our state and nation forward and the report we’ve released today shows just how important this industry truly is in Florida. Our research shows that BRIDG will improve the competitive positioning of the State of Florida for advanced manufacturing and continue to produce a great return on investment for our taxpayers. Florida TaxWatch was pleased to see funding for BRIDG included in the FY 2020-21 budget recently passed by the Florida Legislature, and strongly supports continued public investment in BRIDG.”
BRIDG Interim CEO Brian Sapp said, “BRIDG is poised to emerge as Florida’s technical and economic engine for fostering innovation in microelectronics, increasing high-tech employment and regional wage growth, and developing a skilled microelectronics workforce to ensure global competitiveness. Diversifying Central Florida’s economy through the creation of high skill and high wage jobs in the fields of microelectronics and advanced manufacturing is a key factor in the effort to secure the economic vitality of our state and nation.”
Manufacturing is a major driver of Florida’s economy and according to the latest data from the Florida Department of Economic Opportunity, more than 20,000 manufacturing companies provide over 381,000 Floridians with high-wage jobs. BRIDG plays an essential leadership role in this economic transformation as a not-for-profit public-private partnership for microelectronics R&D and production. Located at NeoCity – a 500-acre master-planned technology district in Osceola County – BRIDG has the potential to establish Central Florida as a major global hub for advanced manufacturing, serving as a catalyst for continued growth throughout the state.
You can read the full report HERE. Watch the “Manufacturing in Florida” video on the FTW YouTube Channel HERE.
About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute for more than forty years and the trusted eyes and ears of Florida taxpayers, Florida TaxWatch 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 citizens and businesses. Florida TaxWatch is supported by its membership via voluntary, tax-deductible donations and private grants, and does not accept government funding. Donations provide a solid, lasting foundation that has enabled Florida TaxWatch to bring about a more effective, responsive government that is more accountable to, and productive for, the citizens it serves since 1979. For more information, please visit www.floridataxwatch.org.