Florida Medical Manufacturers Endorse Gov. Scott's Proposal to Eliminate Sales Tax on Manufacturing Machinery and Equipment
Last week, officials from the Florida Medical Manufacturers Consortium (FMMC) announced the organizations full support for Governor Scott's legislative priority to eliminate the current sales tax on the purchase of manufacturing machinery and equipment. The FMMC urges the Florida Legislature to pass this important legislation to remove a significant competitive disadvantage for Florida manufacturers and help grow this key sector of our economy.
"Florida’s medical device manufacturers compete for business, every day, with facilities in other states and nations that simply do not tax capital equipment," states Geary Havran, FMMC chairman, and president and CEO of NDH Medical Inc. "Taxing manufacturing equipment discourages capital investment and retooling, and therefore negatively impacts the long-term competitiveness of Florida manufacturers."
Florida is home to one of the nation's largest medical device economies – encompassing 662 medical device manufacturers, employing nearly 21,000 Floridians, paying an average annual wage of more than $60,000, and ranking third, nationally, in the number of FDA-registered medical device establishments.
FMMC is a statewide association of medical technology firms that make everything from bandages and tubing, to precision surgical tools and implantable devices. The FMMC exists to unite, promote, and grow the Florida Medical Device Industry, and to enhance the business success of its member companies. The FMMC accomplishes its mission via three strategic priorities: Networking; Industry Knowledge, and Expertise; and Advocacy.