When a balloon soared more than 108,000 feet above the Earth’s surface in a June 18 test flight, it kicked off operation of Florida’s newest spaceport, which is planned to host more companies in the high-growth aerospace industry.
The test mission by luxury passenger space balloon firm Space Perspective Inc. was the first launch from the Space Coast Air & Spaceport in Titusville. The facility in 2020 became the latest licensed spaceport in the Sunshine State, joining facilities at Kennedy Space Center, Cape Canaveral Space Force Station and other popular launch sites in Brevard County.
This opens up room for more space firms to expand or locate to Florida’s Space Coast. That is especially valuable as real estate, particularly industrial facilities, becomes a hot commodity in the industry.
Expansion plans
Space Perspective, headquartered at NASA’s Kennedy Space Center, knows what a world-class spaceport is like. The company’s leadership was not disappointed by the support offered by the Titusville spaceport, including safety teams, meeting rooms and mission control, said Space Perspective co-CEO and Chief Technology Officer Taber MacCallum. “We expect that over time we obviously will have more investment in the spaceport itself and its infrastructure, but it starts off as a very capable location.”
Indeed, more investment is planned at the Space Coast Air & Spaceport, operated by the Titusville-Cocoa Airport Authority. That includes a 4,000-square-foot hangar for the production and development of horizontal spacecraft, a 4,000-square-foot loading area and a 350,000-square-foot parking lot, according to Michael Baker International, which serves as the Titusville-Cocoa Airport’s engineer and general consultant.
A timeline for these additions has not been established, Titusville-Cocoa Airport Authority Interim ExecutiveDirector Justin Hopman told OBJ via email. “We are open to starting those projects, along with others, as future space-related business creates a need.”
Room for businesses
Of course, Brevard County is one of the world’s hubs for companies with spaceflight and rocket launch operations, along with ancillary support businesses. That includes launch and manufacturing operations of SpaceX, Blue Origin, Boeing, Lockheed Martin and more.
The Titusville spaceport plays a key role in helping businesses in the space industry grow. That’s because Space Florida, the state’s aerospace economic development agency, can help facilitate the construction of new manufacturing or research and development facilities on spaceport property.
That includes the Space Coast Air & Spaceport, said Ryan Robertson, manager of commercial space at Space Florida. “There's a lot of land over there that's available for development.”
This helps the growth of the industry in Central Florida, where businesses face a tight industrial real estate market. The Space Coast industrial market’s average occupancy rate likely is about 97%, Mike Moss, vice president of industrial properties with Melbourne-based Lightle Beckner Robison Inc., previously told OBJ. “The growth is robust, but the amount of space is very limited.”
The continued growth of the space industry means more high-wage jobs and the blossoming of new industries, such as space tourism. The aerospace/aviation industry employs more than 15,000 people in Central Florida, paying an average salary of $95,831, according to the Florida High Tech Corridor Council.
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