Lessons from Florida Production Days: CLA

Florida: an industry leader in production

If you think of Florida, you will probably imagine beaches, oranges and sunshine. But did you know that Florida is also a large production state?

In 2023 it took the top 10 for the production of employment in the United States. Here are some important statistics:

• Florida's production performance (GDP) rose from $ 43 billion in 2014 to 73 billion US dollars in 2022, which corresponds to a growth rate of 67.8% over seven years.
• Florida has added 6,495 new production plants since 2019, which corresponds to a growth rate of 30%.
• The average salaries in the manufacture exceeded $ 78,000 in 2023.
• The processing industry in Florida has created more than 3 million direct and indirect jobs.

Florida has become a leading production state through deliberate actions:

• Investments in research and development
• Emphasis on the MINT formation in schools and universities to prepare for the retirement of the workforce
• Access to important transport routes and ports and offers a strong supply chain
• Business -friendly guidelines and economic incentives that attract new production facilities.

These are significant successes and initiatives. Florida knows how to maintain its competitive advantage and build up the desired economy. Further efforts are necessary.

Florida Fandauly Days: important snack bars

At the beginning of February, the CLA manufacturing team had a productive two -day session in Tallahassee with Florida and several manufacturers in the capital to discuss critical topics for manufacturers. The discussions focused on two main areas:

A manufacturing bill in Florida

The most important bill elements include:

• Institutionalization of a Chief Manufacturing Officer
• Creating a made in Florida name
• Authorization of a “State of Florida Manufacturing Report”
• Foundation of a grant or low-interest-bearing credit program to support manufacturers

Investments to promote growth in the processing business in Florida

• Expansion of the capital investment tax credit
• Restoration of the qualified program for the reimbursement of the target industry industry

We have heard powerful statements from manufacturers at the Senate Committee on Trade and Tourism and repeated the concerns of the business owners. Here are some important snack bars:

Digital transformation

In discussions about business with OEMS, a manufacturer quoted an OEM in which he is given, “If you don't bring your digital game together as a company – there will be no supplier.”

It is no longer a luxury. It could literally hold back from the partnership with important accounts in her supply chain. It can also hinder the ability of a company to be competitive and to grow or to tackle problems.

What initial action will you prioritize? If you are not sure where to start, an assessment of digital readiness can help.

Cyber ​​security

It is a crucial topic. With the digital transformation, companies can have more cyber risks due to complex technical stacks and the IT/OT convergence. Cyber ​​injuries can cost 120,000 to 1.2 billion USD. Companies need cyber resistance without losing operational efficiency. The aerospace and defense sector, especially in Florida, is facing new cyber security model certification standards (CMMC), which are challenging and expensive for smaller companies. Find out how CMMC becomes more manageable.

Business succession planning

Imagine you go to your office and your boss says: “Buy this business or I'll put a sign for the building tomorrow.” So an owner acquired his business in Tallahassee.

With increasing age of the workforce, the successor planning becomes essential. For many business owners, their business is their most valuable capital, and it can cause uncertainty for employees and management without a plan.

The early owner -Gacy planning can treat these problems. If you are not sure where to start, CLA can help.

Tax incentives

In view of the demand for skills that exceed the supply, proactive manufacturers deal with workers by investing in training, automation and various talent pools. Many of these strategies could have incentives to support these investments.

How CLA manufacturers can help

Findings gained from Florida's processing business offer valuable lessons for companies in the United States. Inclusion of the digital transformation, the improvement of cyber security, planning the successor and investing in the development of the workforce are important steps towards continuing growth and competitiveness.

Still contact the CLA manufacturing team today to find out how you can benefit from these strategic practices and bring your company to the next level.