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Florida TaxWatch: Florida Space Coast Economies Fueled by Revitalized Space Program, Private Investment

TALLAHASSEE, Fla. – Today, Florida TaxWatch (FTW) released its latest economic commentary, The Economic Impact of a Rebounded and Revitalized Space Program on Florida’s Space Coast, examining the impact on local economies of the federal Space Shuttle Program’s discontinuation, and the subsequent revival of the space industry in Florida thanks to private investment.

Florida TaxWatch President and CEO Dominic M. Calabro said, “The end of the federal space program in 2011 cost Florida tens of thousands of jobs, impacting workers in nearly every industry and sending unemployment in Brevard County to more than 11 percent. Today, thanks to private investment, American ingenuity, and public-private-partnerships made possible by Space Florida, the space program is once again fueling not just the imaginations of Americans, but also the livelihoods of hard-working families throughout the Space Coast. Florida TaxWatch is proud to present this economic commentary on Florida’s space industry and looks forward to the innovation and achievement it will again bring to our state and nation.”

ECONOMIC IMPACTS OF FLORIDA’S REVITALIZED SPACE PROGRAM

  • 8,700 new jobs created between 2010 and 2017;
  • More than 7,600 new jobs created through efforts shepherded by Space Florida between 2018 and 2019 with an average annual wage above $91,000;
  • City of Titusville’s tax base rose from $450 million in 2010 to $850 million in 2018; and
  • Nearly $1.7 billion in capital investment secured between 2010 and 2017.

Read the full commentary here.

About Florida TaxWatch
As an independent, nonpartisan, nonprofit government watchdog and taxpayer research institute for more than forty years and the trusted eyes and ears of Florida taxpayers, Florida TaxWatch works to improve the productivity and accountability of Florida government. Its research recommends productivity enhancements and explains the statewide impact of fiscal and economic policies and practices on citizens and businesses. Florida TaxWatch is supported by its membership via voluntary, tax-deductible donations and private grants, and does not accept government funding. Donations provide a solid, lasting foundation that has enabled Florida TaxWatch to bring about a more effective, responsive government that is more accountable to, and productive for, the citizens it serves since 1979. For more information, please visit www.floridataxwatch.org.

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