2016 Space Day Advocacy Agenda
“Expanding High-Tech, Aerospace Development & Jobs in Florida”
Support the following key economic development policies/tools to attract private sector investment and jobs that will benefit Florida and effectively meet competitive challenges from other states for new and retained high-tech jobs.
Space Industry Economic Development Initiatives
|Florida Enterprise Fund||Provide one-time funding of $250M establishing a Florida Enterprise Fund to replace the Quick Action Closing Fund, eliminate the need for an escrow account, and streamline legislative sign-off authority to ensure timely decision-making while retaining accountability and oversight. (SB 1646 – Latvala)|
|Corporate Income Tax on Manufacturing Businesses||Eliminate Florida’s corporate income tax on manufacturing businesses to promote economic diversity, as well as business expansion and relocation recruitment efforts.|
|Manufacturing Machinery & Equipment Sales and Use Tax||Make permanent the removal of sales and use tax on Manufacturing Machinery & Equipment (MM&E) as the next logical step following the 3-year removal recommended by the Governor and approved by the Florida state legislature. Eliminates disadvantage Florida manufacturers have compared to those operating in other states. (SB 98 – Hukill/Latvala/Hayes and HB 115 – Magar)|
|QDSC Reauthorization||Reauthorize the Qualified Defense & Space Contractor (QDSC) tax refund, established in 1996, to attract new high-quality, high-wage jobs in the defense and space industries. Tax refunds are made to qualifying, pre-approved businesses bidding on new competitive contracts or consolidating existing defense or space contracts. It provides one of the few economic development tools for retaining, as well as growing, jobs in this important business sector. (HB 1325 – Boyd: reauthorizes until June 30, 2018)|
|R&D Tax Credit||Increase the R&D tax credit a business can receive in a given calendar year to a level of $23M. (HB 311 – Narain and SB 508 – Brandes)|
|Space Florida Development & Operations||Fund at requested level of $10M to support top-priority activities, such as spaceport management and business recruitment operations.|
|Space Florida Aerospace Financing Fund||Support funding request of $5M used to support aerospace capital investment and to leverage non-state investment in aerospace development.|
Florida Space Day also supports the overall legislative and budget priorities of Space Florida and Enterprise Florida, and commends the many successes and breakthroughs made thus far through collaborative initiatives with NASA Kennedy Space Center and private, commercial companies to help the state and Space Coast recover from the retirement of the Space Shuttle program.