The TaxWatch Research Blog

The TaxWatch Research Blog is a forum where our research staff can address topics and issues in a short format. Keep an eye on this space during Legislative Session for frequent posts making sense of the activity at the Capitol. 

Bees, Please Don't Buzz Off

/ Categories: Research, Economic Development
Honey bees enable the production of more than 90 commercially grown crops here in the United States. Around the world, more than one-third of food production relies on pollination, which is important to understand because, over the past 60 years, the number of honey bee colonies in the United States has decreased steadily.

Pay for Performance Contracting

/ Categories: Research, Economic Development
State contracts typically referred to as either performance-based contracting or pay for performance (PFP) are specially formulated so that contracted entities are paid for the outcomes or results of their work, and not just the services that are provided.

The Impact of a $15/hr Minimum Wage

/ Categories: Research, Economic Development
In states across the nation, minimum wage policies continue to dominate political and economic discussions. Recently, two of the nation’s largest states, New York and California, have both passed laws that will gradually raise the minimum wage in those states to $15/hr. This report examines the potential impact of an abrupt raise of Florida's minimum wage to $15/hr.

Welcoming the World

/ Categories: Research, Economic Development, Tourism
Tourism is vital to the economy of Florida, and with the recovery of the world economy, international travel across the world is reaching record highs. This, coupled with data showing the major positive impact international tourists have on economies, provides evidence that Florida should expand its efforts when it comes to attracting foreign visitors to the state.

A Catalyst for Growth

/ Categories: Research, Economic Development
This analysis finds that Florida’s competitive tax climate and welcoming weather entice businesses to our state, but Florida must provide targeted incentive packages that will help create high-paying jobs in the Sunshine State as we compete with other states for domestic and global business.

Building Florida's High-Tech Manufacturing Sector

/ Categories: Research, Economic Development
As the global manufacturing industry shifts away from classically portrayed steel and car plants to a modernized approach of high-tech manufacturing; companies, countries, and states find themselves looking for a way to best position themselves to benefit from the future of manufacturing. Florida finds itself in a unique position to capitalize on an existing project that could help the state become a world leader in high-tech manufacturing for years to come.

2016 Economic Preview

/ Categories: Research, Economic Development
As we kick off 2016, Floridians can look forward to consistent growth in the Florida economy. As shown in the December 2015 Economic Commentary, Florida experienced strong job growth in 2015, adding nearly a quarter of a million jobs. Heading into 2016, Florida’s job market is widely expected to maintain its course as the Florida economy as a whole continues to strengthen. One of the most commonly used metrics to measure a state’s economy is the Real Gross State Product (RGSP), which measures the value of economic output for a given state, adjusted for price changes stemming from inflation or deflation. Florida’s RGSP is expected to grow 3.1 percent in 2016, which is roughly a half a percentage point higher than the United States.

Extending the Manufacturing Machinery & Equipment Sales Tax Exemption

/ Categories: Research, Taxes, Economic Development
Given the diverse economic benefits provided by manufacturing, it is in the state’s best interest to continue to foster growth in this sector, and Florida lags behind compared to other Southern states. But while most Southern states provide broad tax exemptions for manufacturing equipment, Florida’s most important exemption to encourage capital investment in manufacturing will sunset in April 2017. The analysis in this report demonstrates that extending the exemption could provide a significant economic benefit to the state, and its manufacturing industry.

Reducing the Business Rent Tax

/ Categories: Research, Taxes, Cost Savings, Economic Development
A reduction in the BRT would be broad-based, benefiting a large number of businesses. All businesses that rent commercial real estate pay the sales tax on those rents, regardless of their profitability or financial shape. Reducing the sales tax would help be a significant help to struggling companies. It would also help new businesses, who may find that other startup costs rule out purchasing real estate as an option.

Economy Heating Up in South Florida

/ Categories: Research, Economic Development, Local Government, Tourism
Over the past few years Florida’s economy has been on the rise, finally shaking off the economic pain from the great recession. This positive growth has helped stimulate development in South Florida in particular. In a recent survey, more than 80% of small businesses in South Florida reported that they expect to meet or exceed their 2015 revenue targets. And the economic growth is not limited to small businesses; the South Florida Region has also seen a growth in sectors such as construction, financial services, innovation, and more.

Jacksonville Poised for Sustained Growth

/ Categories: Research, Economic Development, Local Government
Ask most people which city in the U.S. is the largest, and you will likely hear New York, or Los Angeles, or one of the other “major” cities around the country. The truth, however, is that the largest city in the country is Jacksonville, Florida, at 874.6 square miles. While the size of Jacksonville may not be well known, even fewer may realize that the city is a rising star of startup activity and job creation.

Could Florida Be The Next High-Tech Hub?

/ Categories: Research, Economic Development
A Central Florida technology research center could help launch the state's high-tech manufacturing industry and ignite economic growth. The development of the Florida Advanced Manufacturing Research Center through the International Consortium for Advanced Manufacturing Research will help create, develop and support high-tech Florida companies producing smart sensor technologies for high-tech manufacturing goods.

Florida Is The World's Port Of Call

/ Categories: Research, Economic Development, Transportation, Tourism
Florida residents are keenly aware that tourism is an important economic engine providing power to the state economy, and several Florida TaxWatch publications provide economic data supporting this observation. Tourism is one of the top providers of jobs for Floridians and a serves as a major source of tax revenue for the state.

Florida Sees Solid Job Growth in All Sectors in 2014

/ Categories: Research, Economic Development
For the past four years, the January edition of the monthly Florida TaxWatch Economic Commentary has analyzed the annual Florida employment figures for the previous year. Since the first such analysis in January 2011, Florida has gained approximately 710,200 nonfarm jobs, which equates to a 9.9 percent growth.

Touchdowns, Tackles, and Tax Revenue

/ Categories: Research, Economic Development, Local Government
Bowl games benefit Florida's economy best when they host out-of-state teams, since fans travel to stay in Florida hotels and are encouraged to spend time at Florida's theme parks, beaches and other attractions. Benefits of postseason bowl games include additional tax revenue, more money circulating through local and regional economies, and national exposure for host cities.

Medical Tourism in Florida

/ Categories: Research, Economic Development, Health Care, Tourism
Already a capital of global tourism, Florida has an opportunity to bring even more tourists and more revenue to the state by investing in medical tourism, according to this report, which finds that patients visiting Florida from around the United States and the world for planned medical procedures could have a significant impact on the state economy and while improving residents' health care options.
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