Florida Legislature Expands Spaceport System, Creates Optionality for Space Florida

EXPLORATION PARK, Fla.—March 5 2024—Space Florida, the state’s aerospace finance and development authority, released the following statement on the final passage of Senate Bill 968, expanding Florida’s spaceport territory to include Homestead Air Reserve Base and Tyndall Air Force Base and streamlining the ability for Space Florida to leverage additional tools on spaceport territories across the state. To date, Space Florida has attracted $2.14 billion in private investment for space transportation projects, and this legislation will serve to further expand Florida’s space transportation capacity and bolster related infrastructure investment statewide. The below should be attributed to Rob Long, president and CEO, Space Florida.

“Thank you to Sen. Calatayud, Sen. Trumbull, Rep. Griffitts, Rep. Garcia, and Rep. Mooney for leading the charge to help further establish the space transportation network in the state and provide optionality for future development. This legislation can attract new and diverse aerospace companies, driving economic growth and private investment in new regions and contributing to the enhancement and resilience of our military bases. All while strengthening the critical node at Cape Canaveral by creating a network of complementary facilities. We are rapidly approaching a future where economic activity is happening in space at scale, and this future demands infrastructure and systems that are multi-modal and interconnected.

“Florida is undoubtedly leading the charge and is well positioned to remain a global leader in an integrated space-earth economy. With the passage of this legislation, we can address the needs of a growing industry and make strategic infrastructure investment in our quinta-modal transportation network a priority.”

‍Key Facts

• Space Florida has tracked over $2.14 billion in private investment in spaceport infrastructure across 44 separate projects within the spaceport system since 2012.
• A recent 10-year analysis showed that Florida’s aerospace sector experienced a 41% increase in employment.
• Since 2007, Space Florida has been responsible for nearly 20% of the aerospace workforce across the state.
• Space Florida is projected to have a $1.1 billion annual economic impact over the next five years alone, an astonishing increase from the $5.5 billion impact over the last 15 years.
• Last year, Space Florida partners delivered approximately 2 million pounds from Cape Canaveral to space, a 66% increase over the previous year.

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Media Contact
‍Alayna Curry, APR
‍accury@spaceflorida.gov

About Space Florida

‍Space Florida is where leading aerospace companies get everything they need to see their new ideas take off. As the state’s aerospace finance and development authority, Space Florida brings a mix of unrivaled experience, unmatched financial tools, and unbeatable location to the table by providing critical business financing opportunities for the aerospace industry, managing infrastructure investment in the state’s spaceport system, and facilitating research and development, workforce, education, and investment programs.