Regulation, Investment Ideas Dominate Economic Discussion At Sayfie Review Summit

By David Silverberg, Sayfie Review Correspondent

Panelists discussed economic issues including the easing of federal regulations and public investment infrastructure at yesterday’s Sayfie Review Summit.

“We have perverse incentives that are dampening growth,” Tom Feeney, a former congressman and current president and CEO of Associated Industries of Florida, said. Feeney argued that a complex tax code and federal taxation on corporations and businesses was stifling economic incentives.

State Senator Dorothy L. Hukill focused on the taxation part of the economic equation, noting that “it begins and ends with taxes.” Regarding tax policy, Hukill told the audience “you have to know where you want to go. We set goals with tax policy and then fashion policies to meet those goals.” However, she said this is not happening at the federal level, where federal corporate taxation is driving companies offshore.

During both the panel discussion and an audience discussion forum held later, participants repeatedly cited federal regulation as holding back Florida’s potential.

“What will you do to introduce reality and readability into the federal rulemaking process?” one group of participants proposed asking presidential candidates.

At the same time, participants called for more federal investment and improvements to Florida’s roads, bridges, ports and airports, and called for presidential candidates to commit to providing the state with a share of federal funding commensurate with its contribution to the national coffers.

A key element of that infrastructure is Florida’s 15 deep-water ports combined with extensive logistical capabilities that give it a considerable trade advantage. “The entire Caribbean Basin ought to be dominated by Florida,” Feeney said. “It will happen eventually.”

Notwithstanding Florida’s needs, some summit participants pointed out bright spots in the state’s economic picture. Panelist Dale Ketcham, chief of strategic alliances of Space Florida, noted that Florida is in a unique position to benefit from the movement of space activities from the federal to the private sector, due to the expansion of space tourism. According to Ketcham, Florida is poised to experience long-term growth due to the expansion of highly skilled, high-wage jobs.