FUNDING FOR ‘PROJECT MAGELLAN’ SAILS THROUGH
By The News Service of Florida // March 26, 2014
Designated For Melbourne International Airport
Project Would Create 250 Jobs By End of 2014, Some As High As $100,000
TALLAHASSEE, FLORIDA – Lawmakers took less than five minutes yesterday to approve $20.8 million in incentives for “Project Magellan,” an unspecified economic development project designated for Melbourne International Airport.
The project, which will be located at Melbourne International Airport, is the largest economic development initiatives that has been approved during Florida Rick Scott’s tenure as governor.
The Joint Legislative Budget Commission, a panel of House and Senate lawmakers that oversees amendments to the current year’s spending plan, unanimously approved the proposal to dip into the state’s “quick action closing fund” to bankroll the initiative.
According to Space Florida, the unknown company has said they will invest $500 million in real estate, equipment and furnishings between now and 2020. The company would also create 250 jobs by the end of this year, with some as high as $100,000.