Space Coast EDC Establishes Business Development Incentive Fund

Brevard County, Fla., Sept. 28, 2012 (EDC PR) – The Economic Development Commission of Florida’s Space Coast is pleased to announce that it has developed an economic development incentive fund designed to assist in expanding existing Brevard County high-tech and manufacturing businesses and attracting new businesses to the Space Coast.

This fund, supported by the Florida Department of Economic Opportunity, will supplement existing state and local economic development incentives to increase Brevard County’s competitiveness in economic development projects, while further mitigating the job loss and economic impact of the space shuttle program retirement.

“This fund provides us with an economic development tool that supplements our competitive advantages, including our highly skilled workforce and pro-business environment,” said Lynda Weatherman, president and CEO of the Economic Development Commission of Florida’s Space Coast. “The incentive program is designed to be the final push that influences a company’s decision to locate or expand in Brevard County, further diversifying our economy and moving the Space Coast beyond the shuttle era.”

With the Space Coast designated a “disproportionately affected community” because of the economic fallout of the shuttle shutdown, Florida Senate President Mike Haridopolos worked to secure the funding in Florida’s 2012-13 budget.

The incentive fund targets industries that drive Brevard’s economy: aerospace and aviation; advanced communications; electronics; homeland security and defense; and emerging technologies.

Awards will be granted based on several factors, including job creation, economic impact, return on investment, a company’s financial stability, and timelines for completion. The EDC will manage each application to ensure all qualifying incentives are considered.

For complete qualification guidelines and an application, please visit www.SpaceCoastEDC.org/LocalIncentiveFund.

About the Economic Development Commission of Florida’s Space Coast

The Economic Development Commission of Florida’s Space Coast is dedicated to attracting new business and investment and expanding existing industry throughout the Space Coast, influencing change on government laws and regulations affecting economic development, promoting the Space Coast to encourage new investment, supporting efforts of Space Coast military installations, and relaying new programs and procedures to assist manufacturing and high tech companies.  The EDC is a private, not-for-profit coalition whose stakeholders are business leaders committed to the economic growth and stability of Florida’s Space Coast. Visit www.SpaceCoastEDC.org.