Business Briefs: Scott signs manufacturing tax break into law

May 18, 2013 

Scott signs tax break for manufacturing into law

TAMPA -- One of Gov. Rick Scott's top priorities this year is now law.

Scott on Friday signed a bill that creates a tax break for the state's manufacturers. The governor made it official during a stop at a Tampa manufacturing firm.

The measure (HB 7007) exempts manufacturers from having to pay sales taxes on equipment purchases for three years. The tax break starts in April 2014 and runs until April 2017.

The new law also creates a new nonprofit corporation to oversee money awarded to the state from lawsuits connected to the Deepwater Horizon oil spill.

Some have raised legal questions, however, because the bill did not pass by a supermajority. Top legislators, however, have insisted that the supermajority vote was not needed.

Retirement uncertain for some in younger crowd

NEW YORK -- A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession.

The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010. Young baby boomers, who are between 48 and 57, lost more money but a smaller portion of their overall wealth.

The report says both of those groups are struggling to save enough money for retirement and are lagging older groups in terms of their savings. They also hold more debt than those groups did at similar points in their lives.

Citrus pulp, culls give grass-fed Buffalo pep

BRADENTON -- Mixon Fruit Farms has been sending the pulp and culls from its oranges to Three Suns Ranch in Punta Gorda.

Three Suns is a 100 percent grass-fed bison ranch. The first bison arriving at the ranch in Aug. 2012. Today the ranch has more than 2000 head of bison and an additional 300-400 new baby calves born on the ranch since February.

Because of the drier weather the buffalo have been lethargic, so veterinarian told the owners that the buffalo needed citrus.

The Mixon's have always donated the citrus culls to cattle or dairy farmers so a friend asked if they would provide cull and pulp for the Buffalo.

"The Three Suns Ranch has a dump truck here every time we squeeze," said Dean Mixon.

Because the bison had never eaten citrus it took two to three days before they got used to citrus. Now they follow the truck in and are doing so much better.

The ranch expects to start producing high quality 100% grass fed bison meat in July 2013.

-- Herald staff and wire reports

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