The latest Space Coast developments, and why they’re great news for investors

March 21, 2019 | Blog | Market Insights

SpaceX and more are reaching for the stars, using Florida as the launch pad

Along with the Canaveral Port Authority’s 20-year master plan to build on the cruise ship and cargo businesses, there are plenty of other developments to get excited about on Florida’s Space Coast.

The sky’s the limit for SpaceX

SpaceX is continuing development efforts in the Cape Canaveral region, with sustained rocket building and launch activity planned from the Kennedy Space Center.
Despite layoffs being announced at their Hawthorne, California, headquarters, SpaceX still has job openings in Cape Canaveral, including skilled positions such as launch engineers and supply chain management.
The company is currently busy building the Starship and Super Heavy booster, hoping to make space travel to the moon, Mars and beyond a reality. Test launches are rumored to be beginning as soon as next month.
SpaceX also plans to begin launching thousands of individual satellites over the next few years, in an effort to provide a reliable and affordable global broadband service. The network of satellites will be known as Starlink, and many will be launched from the Kennedy Space Center Launch Complex.

New kid on the block

SpaceX isn’t the only company shooting for the stars. The Los Angeles-based 3D rocket factory and launch services provider Relativity has been granted a lease to build and operate its own launch facilities at Launch Complex 16 at Cape Canaveral Air Force Station.

They’ve signed a five-year agreement that includes on-site vehicle integration and payload processing, with the option to extend to an exclusive 20-year term.
Relativity is the fourth company with a major operational orbital launch site at Cape Canaveral, alongside SpaceX, ULA and Blue Origin.
Meanwhile, OneWeb is finishing construction of its $85 million satellite manufacturing firm in Merritt Island’s Exploration Park. Once open, they’ll hire around 250 workers to build the hundreds of satellites they have planned.

Other Space Coast developments

Brevard County’s Patrick Air Force Base will soon see a surge in activity, thanks to deals with two government contractors totaling almost $30 million.
Zel Technologies LLC recently won a five-year $20 million contract with the U.S. Air Force to provide radiochemistry laboratory support, program management, simulation and modeling support, and nuclear physics/engineering subject matter expertise, at both Patrick Air Force Base and a location in Melbourne.
Meanwhile, Peraton Inc. will provide developmental testing and evaluation scheduling at the base in a four-year $8.2 million contract with the U.S. Navy.
All of these developments are great news for multifamily investors. The continued investment in Cape Canaveral will bring economic growth and hundreds of new jobs in the area, in both skilled and unskilled roles.
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Sources: SpaceX, Relativity, Orlando Business Journal

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