Newsletter - Archive  Apr 25, 2010

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ROTARY CLUB OF FORT LAUDERDALE Established 1922 District 6990, Club 4444

Rotary One Minute:

PROGRAM 

Ray Williams introduced Frank Herhold who is retiring as head of the Marine Industry Association of Soutb Florida in July which he has been with since 1990.  Mr. Herhold stated that the marine industry has a bigger economic impact on South Florida than the tourist industry.  There are 800 marine businesses in Broward County alone, and the marine industry brings in an income of $18.4 million statewide of which $11 million is from Broward County.  In Broward County alone, there are 132,000 marine industry jobs, with 1,500 mega yachts (over 150 feet) that visit our area yearly.  Mr. Herhold then introduced Jason Dunbar who is with the Fort Lauderdale Yacht Brokers Association and he stated that since the 1990's recreational boating has grown rapidly.  Mr Dunbar also stated that the marine industry is in jeopardy due to the competing states like North Carolina, and even other countries who are targeting the industry by assessing no sales taxes on boat purchases or imposing a sales tax cap.  Reports estimate that Florida's marine workforce has been reduced by 4.9 percent because of the tax disparity.  Boaters are buying and registering their boats outside of Florida to avoid paying the uncapped sales tax. and due to this North Carolina's marine industry has increased dramatically. Florida's Marine Industry could see an overall benefit in sales tax proceeds if the yacht tax cap is put into place here.  Both speakers then had a brief question and answer period.

FOUR WAY TEST

  Of the things we think, say or do:      

    1.   Is it the TRUTH?

       2.   Is it FAIR to all concerned?

       3.   Will it build GOOD WILL and   

              BETTER FRIENDSHIPS?

       4.   Will it be BENEFICIAL to all

              concerned?