Gov. Rick Scott talks sales tax cuts for businesses in Brevard Wednesday
Gov. Rick Scott is scheduled to appear in Cocoa Wednesday to promote his proposal to cut sales taxes for manufacturers when they purchase equipment.
Local 6 news partner Florida Today reports Scott plans to ask the state Legislature to eliminate the requirement that a company show a 5 percent productivity increase before being able to avoid paying sales taxes for equipment purchases.
The governor is scheduled to appear at 2 p.m.. at Coastal Steel, 870 Cidco Road in Cocoa.
The exemption would divert $57.5 million from the state treasury its first year and $115 million the following year.
Lynda Weatherman, president and CEO of the Economic Development Commission of Florida’s Space Coast, will join Scott and area business leaders to discuss the importance of manufacturing and the need for legislation to strengthen industry.