Space Florida Gets Stable Budget, Infrastructure Funding and Tax Credits

Tallahassee, FL (Space Florida PR) – Aerospace-related economic development remained a top priority for the State lawmakers during the 2012 Legislative Session, with Space Florida’s current $10 million budget remaining stable through the upcoming fiscal year. As part of this commitment, a first-time award of $4 million in recurring funds was also approved for the organization.

In addition to Space Florida’s budget, several critical, aerospace-related bills were passed that will result in significant benefits to Florida’s aerospace industry, including:

Space Infrastructure Funding

  • $15 million was included in the Florida Department of Transportation’s (FDOT) strategic intermodal system to support spaceport infrastructure.
  • SB643 institutionalized the process of engaging spaceport projects for consideration in FDOT infrastructure funding. The Bill was sponsored by Senator Benacquisto and Representative Workman, and more clearly defines “launch support facilities” as “facilities that are located at launch sites or launch ranges that are required to support launch activities.” This may include launch vehicle assembly, launch vehicle operations and control, communications and flight safety functions – as well as payload operations, control, and processing. This Bill also provides $10 million in tax credits for the space industry.

Cecil Field as Spaceport Territory (HB59)

  • Legislation added Cecil Field and the surrounding area as a “spaceport territory,” allowing Space Florida to include it in master planning efforts and space-related infrastructure upgrades (Bill sponsored by Senator Wise and Representative Ray).

“This year’s legislative accomplishments were significant and we are extremely grateful for the leadership of our Governor and legislative leadership in recognizing the ongoing importance of aerospace to our Florida’s economic health,” said Space Florida President Frank DiBello. “This budget and the recurring funds initiated will enable consistent, continued job growth in our state.”

About Space Florida:

Space Florida was created to strengthen Florida’s position as the global leader in aerospace research, investment, exploration and commerce. As Florida’s aerospace development organization, we are committed to attracting and expanding the next generation of space industry businesses. With its highly trained workforce, proven infrastructure and unparalleled record of achievement, Florida is the ideal location for aerospace businesses to thrive – and Space Florida is the perfect partner to help them succeed.