October 31, 2014

Economic Yearbook 2007

SPACE COAST: Preparing for Change

A shift from the Shuttle.

Barbara Miracle | 4/1/2007

Regional Trends

NEW MISSION : In Brevard County, NASA and the Kennedy Space Center launch site have been the economic engine for more than four decades. But there's concern that the shift from the space shuttle to NASA's new Space Exploration Initiative in the next decade could mean fewer jobs during the transition period and perhaps longer. The county is making a two-pronged effort to retain jobs by working to expand its role in the Space Exploration Initiative and recruiting biotech companies. "If interest rates remain steady, we anticipate a continuing of the strong economy. We are also, however, watching the federal budget carefully, particularly in the areas of NASA funding and Department of Defense contracts," says Lynda Weatherman, president of the Economic Development Commission of Florida's Space Coast.

DIVERSIFYING: Volusia County's tourism economy is changing as older hotels are making way for luxury condos or condo/hotels. A push toward manufacturing and warehouse facilities is augmenting tourism. ... The new DeLand Crossings Industrial Park has signed on two major auto-related manufacturing companies, NSI Intellitec Products and BBK Performance, which will open this year. ... There are plans for another industrial park, 150-acre Tomoka Farms Industrial Park, at the county's landfill site on the western edge of Daytona Beach.

COMMERCIAL: Residential development continues in Flagler County and its primary community of Palm Coast, but commercial development also is starting to boom. Retail is coming online first, and Palm Coast is working to attract businesses that would make the area less of a bedroom and retirement community.

Tags: Space Coast

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