FL STEM Navigator: News From the Field
Audio Overview – a lively “deep dive” discussion that summarizes the key topics from this article
Brevard County, also known as Florida’s Space Coast, has emerged as a significant economic powerhouse and one of the fastest-growing economies in the United States. This rapid growth is largely attributed to its robust and diversifying industry base, particularly in aerospace and defense.
Key highlights of Brevard’s economic growth include:
Aerospace and Technology Hub: The region has transformed from primarily a space launch and landing site into a hub for aerospace and defense industries. It is now a leading county for high-tech manufacturing in Florida, with major companies like Lockheed Martin, Boeing, L3Harris, Northrop Grumman, Embraer, United Launch Alliance, and Blue Origin making substantial investments and creating jobs. Brevard County is a center for engineering and production of spacecraft, aircraft, payloads, electronics, and ground support. It also boasts a high concentration of engineers (48 per 1,000 workers) and a high number of patents (13 per 10,000 workers), indicating a strong focus on innovation.
Strong Economic Performance: Brevard County’s GDP growth has been strong, averaging 4.9% per year, significantly outpacing national growth. It has received numerous accolades, including being ranked among the fastest-growing tech sectors and having strong job growth. Florida as a whole has also been recognized as a top state economy, reinforcing Brevard’s economic standing.
Diversified Industries: Beyond aerospace, the Space Coast has a growing array of manufacturing industries supporting the aerospace sector, as well as significant growth in other sectors such as real estate, government, professional and technical services, healthcare, retail trade, and construction.
Talent Attraction and Workforce: The region’s attractive tax climate, low cost of doing business, and affordable labor costs, coupled with a skilled and educated workforce, make it an appealing location for businesses and professionals. The presence of institutions like Florida Institute of Technology and Eastern Florida State College contributes to a continuous supply of competent staff.
Quality of Life and Infrastructure: Brevard County offers a high quality of life with diverse housing options, outdoor recreation, a growing arts scene, and proximity to major tourism centers. Its uncongested transportation network, including road, rail, air, sea, and space, provides efficient access for people and goods. Melbourne Orlando International Airport (MLB) is noted as America’s fastest-growing aviation and aircraft manufacturing center.
