Florida’s Space Coast was hit hard during the 2008 economic recession; many of the area’s aerospace and defense companies laid off hundreds of skilled workers. Ten years later, the local economy is once again booming. With the return of aerospace jobs, and an influx of new tech and tourism companies entering the area, and an affordable housing market, some are even calling the Space Coast “The next Silicon Valley.”
High profile companies like Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin, among others, have put space exploration back in the national spotlight. As NASA announces new missions to the moon and begins to look to the future on Mars, new start-ups and old names alike are bringing high-paying aerospace jobs to Central Florida by the thousands in what’s been dubbed the new space race.
But aerospace isn’t the only sector that’s growing: the housing market is growing by leaps and bounds, and new construction in the area has more than double over the last 5 years. Port Canaveral, Cocoa Beach, and Melbourne are growing attractions for tourists with a wide variety of cruises, local shopping, art, and more, breaking records for visitors at any given time in Florida’s history.
Read more about the Space Coast’s economic boom in UPI’s article. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]! Relocating to area? We also do real estate!
Jerry Allender, the Canaveral Port Authority Chairman, recently spoke about the Port’s economic outlook. According to Allender, the Port can expect to see double the annual volume of cruise passengers over the next five years, continuing cargo growth, and the development of The Cove as a part of the plan for a major shopping, dining, and entertainment center. Outside of the Port, Brevard County is seeing a resurgence of high demand for skilled engineers and tech professionals as companies like Harris and Northrop Grumman open hundreds of positions at their Space Coast locations. Smaller high-tech companies are also growing as local groups like Liberty IT Solutions gain national renown. Northrop Grumman recently won the Air Force’s coveted contract to develop a new stealth bomber, while Liberty IT Solutions signed a contract with the Dept. of Veterans Affairs to build software and network infrastructure.
To read more about Allender’s report, take a look at Florida Today’s story, or read about the growing number of tech jobs in this article. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]! If you are thinking about relocating to the Space Coast, give our real estate company, Vincent Keenan Realtors, a call today at (321) 784-6286!
Northrop Grumman recently signed a contract with the U.S. Air Force to “design and manufacture a highly classified, long-range stealth bomber.” The company won the bid against a joint effort made by Lockheed Martin and Boeing. Speculation about the economic growth that will be brought to the already flourishing Space Coast estimates the contract could bring as many as 1,500 high-paying jobs with a median annual salary of $100,000 to the area. The jobs and local investment will significantly impact the area’s space and aviation sectors, which have not experienced the same recovery the rest of the local economy enjoys. Additionally, local experts believe that the contract will have a significant positive impact on the already booming real estate market, provide a boost to local charities, and stimulate jobs in the local services and retail industry.
Shortly after the deal was announced, Northrop Grumman made a generous donation of $135,000 to select Brevard County schools. The selected schools will get “Innovation Center Labs” designed to encourage students interested in STEM subjects to continue pursuing their curiosity for maths and sciences. According to the President of United Way of Brevard, “Northrop Grumman has a long history for supporting the community and charitable causes with volunteer time and financial resources.”
Read more about the Northrop Grumman contract, the economic impact it will have, and Northrop Grumman’s generous donation on Florida Today. If you are planning to visit the Space Coast and are in need of accommodations, give us a call at (321)-784-5046 or e-mail us at [email protected]! Be sure to ask us about our Fall Special, now through November 30!
