State’s ranking unchanged since last year.
Florida earned a low grade again for the health of its manufacturing industry in a 2016 study by Conexus Indiana. It was Florida’s seventh-straight year of “D” rankings.
In the 2016 study, Indiana, Iowa Michigan, Kentucky, and South Carolina received A’s.
In the Sunshine State, though, the forecast was more overcast. The grades take into consideration each state’s manufacturing employment per capita, share of income earned by manufacturing employees, and wage premium paid to manufacturing workers. In addition, it earned a “C” for its logistic industry health, human capital and worker benefit costs.
Florida manufacturing makes up 3.1 percent of the state economy, contributing $23,368,488,000.
Because manufacturing firms don’t rely on local demand, the Conexus report points out, business owners pick locations primarily based on the quality and availability of the labor force, transit infrastructure, non-wage labor cost, access to innovative technology, and the cost of doing business.
While Florida’s manufacturing climate remains troubled, its tax climate is enviable. For the last five years, it’s earned an “A.”
For more information on the report, click here.
