7 days ago
Brevard County axes economic fund, raising fears for space industry future
The Brief
The Brevard County Commission voted to end the North Brevard Economic Development zone and move money back to the county's general fund.
North Brevard leaders are worried this could hurt future investments, specifically with space companies.
Florida is fighting to relocate NASA's HQ to the Sunshine State. Some leaders think this move may hinder those efforts.
TITUSVILLE, Fla. - The Brevard County Commission voted to end the North Brevard Economic Development zone and move money back to the county's general fund.
What we know
At the Brevard County Commission meeting on May 20, in a 3-2 vote, a majority of county commissioners voted to dissolve the North Brevard Economic Development Zone to re-allocate money back to the county's general fund.
The zone has been in place for more than a decade to spur economic development in northern Brevard County communities like Titusville, Mims and Port St. John.
Officials are worried this will negatively impact one of the region's biggest industries — space companies. For several months, state and local leaders have been talking about relocating NASA headquarters to Florida, but the Mayor of Titusville said this was the state's only tool to bring in some companies. Without the funding, the industry could move somewhere else.
What we don't know
It's unclear what the county will do with the money it's putting back in the general fund. Some have said it will be used to fund firefighters who are also dealing with a funding crisis.
The City of Titusville is trying to figure out how it will make up millions in lost funding. City leaders haven't released any proposals on that yet but will discuss them at Tuesday night's city council meeting.
The other side
Commissioner Kim Adkinson said during the May 20 meeting that budget proposals showed money in the zone was not going to space anymore, which is why she supported dissolving the fund.
What they're saying
Local leaders are worried private space companies will look to other states like Texas, Alabama or California to grow their space companies if there's no incentive for them to come to Florida.
"The fact that it is now gone has cost an estimate of over $50 million," said Titusville mayor, Andrew Connors.
"To be competitive, we must have economic development," said District 5 County Commissioner Thad Altman, who tried to save the fund.
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The Source
This story was written based on information shared by the Brevard County Commission, and the City of Titusville.
