Manufacturing
Brevard’s manufacturing industry is primarily represented by:
- Computer and electronic product manufacturing
- Transportation manufacturing
- Machinery manufacturing and
- Fabricated metal product manufacturing.
Despite the economic slowdown and its negative effects on the manufacturing industry, the manufacturers in Brevard County continue to be one of the major driving forces behind the local economy, representing Brevard’s highest average annual pay and employing over 11% of Brevard’s non-farm workforce (US Department of Labor, Bureau of Labor Statistics, July 2010).
Some of the challenges manufacturers are facing:
- How to compete with low-cost imports
- How to minimize labor by automating production
- Increasing efficiencies by outsourcing manufacturing non-core functions
- Supporting lean manufacturing
- Improving margins, product innovation, and quicker time-to-market by applying technology innovatively
As a manufacturer you know your plant’s production is most efficient when it is uninterrupted. Because of that, you have to keep large inventories of raw materials and finished goods.
Capital investments in plant and equipment are substantial and they are periodically renewed. You may use futures contracts as you look for ways to control costs and optimize production.
And as a manufacturer, among other industry specific regulations, you have to comply with the:
To improve the manufacturing processes and business operations, Brevard manufacturers could consider the following training and certifications programs:
Information you can use from Florida Department of Revenue:
- Tax Advantages for Businesses:
- Quick read on Sales and Use Tax, easy to follow outline on
- New or expanding business
- Machinery and equipment to produce electricity or steam
- Pollution control machinery and equipment
- Semiconductor, defense or space technology
- Research or development costs
- Electricity or steam purchased for manufacturing
- Boiler fuels
- Resource recovery equipment (refund)
- Solar energy systems
- Florida's Enterprise Zone program (jobs credit, business property, electrical energy, and building materials used)
- Film in Florida
- Sales and use tax incentives, including Manufacturing and Spaceport Investment Incentive Program
- Quick outline about Corporate Income Tax credits:
- Related to jobs:
- Jobs for the unemployed tax credit
- Enterprise Zone jobs credit
- Rural job tax credit
- Urban high-crime area job tax credit
- Subtraction for Florida employees included in calculation of Federal employment credits
- Enterprise Zone property tax credit
- Related to investment in Florida:
- Entertainment industry tax credit
- New markets tax credit
- Capital investment tax credit
- Credit for contributions to nonprofit scholarship funding organizations
- Community contribution tax credit
- State housing tax credit
- Contaminated site rehabilitation tax credit
- Hazardous waste facility tax credit
- And more
Resources for Brevard manufacturers:
Other Links of Interest:
» Review some Manufacturing & Distribution tips that may enhance your business.