Anticipation High For Scott’s Project Magellan Announcement

By  //  May 8, 2014

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Project Would Create 250 Jobs By End of 2014, Some As High As $100,000

TALLAHASSEE, FLORIDA – The much anticipated details of “Project Magellan,” an unspecified economic development project designated for Melbourne International Airport, did not happen yesterday, but is expected to be announced today by Gov. Rick Scott.

RELATED STORY: FUNDING FOR ‘PROJECT MAGELLAN’ SAILS THROUGH

Magellan

The much anticipated details of “Project Magellan,” an unspecified economic development project designated for Melbourne International Airport, is expected to be announced today by Gov. Rick Scott.

Last March, state lawmakers approved $20.8 million in incentives for “Project Magellan,” but the aerospace company’s identity has not been revealed due to a confidentiality agreement.

According to Space Florida, the unknown aerospace company 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.

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.

Gov. Rick Scott

Gov. Rick Scott

According to Gov. Scott’s office, the project will eventually provide a total of 1,500 company jobs and 300 contractor positions, also featuring a salary of $100,000, by 2020.

First phase plans call for the construction of a 200,000-square-foot facility for the project, which would generate an estimated 300 jobs by the end of 2015. Then, based on predetermined benchmarks, an additional 500,000-square-feet could added, along with the additional 1,500 jobs.

To make this project happen, 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.

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