Florida Officials Say a Manufacturing Boom Is Powering a Push Into the World's Top 10 Economies by 2030

Florida's leaders say the state is no longer just tourism, farming and construction. In an exclusive with Fox Business, state and business officials laid out how they want manufacturing to carry Florida into the world's top 10 economies by 2030.

The claim. Florida Chamber of Commerce CEO Mark Wilson said Florida is now the world's 14th largest economy and began diversifying about 25 years ago into life sciences, aerospace, rockets and manufacturing. "Manufacturing is a non-negotiable key component," he said. Fox puts the state's GDP above $1.8 trillion, ahead of Spain, Mexico and Australia.

The numbers. Jason Mahon, FloridaCommerce's chief manufacturing officer, said Florida is a top 10 manufacturing state and has grown manufacturing output 60 percent, from $54.4 billion to $87.4 billion, while traditional manufacturing states mostly declined. The state also wants a top five national ranking in manufacturing employment, which would take 750,000 net new jobs.

The companies. Northrop Grumman, which has more than 8,000 employees in Florida at three main locations, builds the Navy's E-2D Advanced Hawkeye aircraft there. Naples-based Arthrex makes its TightRope PRO foot and ankle device in the state. Both are finalists for the Chamber's "Coolest Thing Made in Florida" award, to be announced Oct. 28.

The tax pitch. Florida has no individual state income tax, and the Florida Policy Institute says between 99 and 99.9 percent of businesses anchored there owe no state corporate income tax. State leaders have passed tax cuts every year since 2011. Mahon said some industrial projects go from groundbreaking to production in under six months, which he called nearly impossible in higher-tax, more heavily regulated places like the Rust Belt or West Coast.

Note for readers: the figures come from state officials and company executives, who have an interest in promoting Florida. We have not checked them independently.