Manufacturers have a plan for the 2013 Texas legislative session.
- Molly Ryan, Houston Business Journal
The Texas Association of Manufacturers unabashedly declared 2013 to be the ?Year of the Manufacturer in Texas? during a Wednesday celebration of Texas? Manufacturers? Day.
The statewide manufacturing organization also outlined its priorities for Texas? legislative session, which are designed to ensure that manufacturers can live up to the hype of ?The Year of the Manufacturer.?
Included in TAM?s priorities are: defending manufacturers against ?excessive? taxation for capital-intensive business; creating more efficiencies in the permitting process; ensuring Texas has affordable electricity prices; ensuring the state upkeeps its critical infrastructure, particularly water sources; improving Texas? education system to create more skilled workers; and developing incentives to attract research and development activity in Texas.
TAM?s priorities align similarly with those of the Texas House of Representatives? Interim Committee on Manufacturing. The committee released a report in January recommending that the Legislature simplify complex regulations and permitting, create new education processes to train skilled manufacturing workers and introduce a tax credit for R&D.
Speaking of R&D tax credits, Texans for Innovation, a coalition of business leaders interested in establishing a state R&D tax credit, released a report Wednesday stating that the economy would benefit if the state modifies its R&D tax policy.
The report found that Texas loses at least $1.3 billion in R&D activity each year from not having an R&D incentive.
However, if Texas passes R&D tax credits, such as extending existing manufacturing sales tax exemptions for R&D materials and equipment and reinstating an R&D franchise tax credit, the state could create more jobs and economic impact. The study found that the state would create $13 billion more in economic activity each year with the tax credits and add 97,600 new permanent jobs.
"Texas should be doing all it can to encourage growth in the manufacturing sector," Jim Murphy, chairman of the Houston Interim Manufacturing Committee, said in a statement. "Broad-based, low-rate taxes and smart incentives that encourage research and development are central to this growth equation."
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