Home » FUNDING FOR ‘PROJECT MAGELLAN’ SAILS THROUGH

FUNDING FOR ‘PROJECT MAGELLAN’ SAILS THROUGH

By  //  March 26, 2014

Share on Facebook Share on Twitter Share on LinkedIn Share on Delicious Digg This Stumble This

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.

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.
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.