Florida Manufacturing Sector Annual Report
Today Florida TaxWatch released a detailed report summarizing the key topics discussed at the state’s annual MakeMore Manufacturing Summit held last October in Orlando. The annual event is hosted by FloridaMakes, AIF, Florida Commerce, CareerSource Florida and the Florida Chamber of Commerce.
This year’s report gives an overview of several positive aspects regarding the growth of the manufacturing sector in Florida, while also highlighting statewide challenges like access to capital, education of policy makers in Tallahassee, and productivity per employee relative to the national average.
The Florida manufacturing report also delves deeper into the theme of this year’s summit, “Unleashing Digital Transformation.” Here again, the goal of the report is to raise the bar by encouraging Florida manufacturing business owners to embrace new opportunities for innovation and automation.
The State of Florida Manufacturing Today
The first section of the report focuses on The State of Florida Manufacturing and compares manufacturing in Florida today with the Florida Chamber’s ambitious yet attainable blueprint for 2030.
The report notes that Florida has now crossed a significant threshold of 25,000 manufacturing businesses in the state that employ over 420,000 workers making average annual wages of $74,575.
This manufacturing milestone moved Florida ahead of New York in terms of total manufacturing jobs, according to this Florida Chamber press release from September 2023.
In terms of employment, Florida manufacturers account for just over 4% of the state’s workforce. The state’s 426,000 manufacturing workers now rank Florida in the Top 10 states in terms of manufacturing employment.
By comparison, three sectors in Florida account for over 50% of the state’s workforce: Trade, Transportation and Utilities (20%), Professional and Business Services (17%), and Education & Health Services (15%).
A 2030 Vision for Floirda Manufacturing
After covering the status quo, the report turns to the Florida Chamber’s 2030 Blueprint which lays out key targets and goals that state leaders envision for the Florida manufacturing sector in the near future.
The main goal is the addition of another 20,000 manufacturing jobs each year for the next 8 years. 160,000 new manufacturing jobs in Florida would push the state’s total to 575,000 manufacturing jobs. In the process, Florida would move ahead of Pennsylvania and enter the ranks of the Top 5 manufacturing states in the country.
Still, getting there will be a challenge, as the report notes there is a lack of leadership and basic understanding about the role and importance of manufacturing in Florida among policy makers.
In order to bridge the gap between front line manufacturers and elected officials in Tallahassee, the report encourages Florida manufacturers to be proactive with outreach.
“It is important that manufacturers invite legislators to visit and tour manufacturing facilities to meet with their constituents and to see firsthand how their constituents are affected by the decisions made in Tallahassee. These tours have proven to be one of the manufacturing’ industry’s best grassroots lobbying tools.” -Florida Chamber’s 203o Blueprint
Summary Recommendations for Florida Manufacturers
In addition to encouraging Florida manufacturers to invite policy makers to tour their facilities, the MakeMore Summit Report concludes with five pages of solid recommendations that can help Florida manufacturers with branding, messaging, recruitment, supply chain issues, and new technology implementation.
If you are Florida manufacturing business owner, download the full 28-page annual report for in-depth recommendations regarding the following key questions:
- How can Florida manufacturers step up their marketing and messaging efforts?
- How can Florida manufacturers utilize “nontraditional” methods of building a robust and sustainable pipeline?
- Why do Florida manufacturers need to get into local schools early?
- How can Florida manufacturers develop resilient and sustainable supply chains?
- How can Florida manufacturers adopt and implement “Industry 4.0” technologies?
- How can Florida manufacturers need to make effective use of the Florida Manufacturing & Supply Chain Caucus?
Contact CII Today
If you own an established manufacturing business and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.