Mon. Dec 4th, 2023
The Impact of Space Industry on Central Florida’s Economy

The Space Coast of Florida has witnessed over 50 launches this year, setting a new record for the region. These launches have a significant impact on the economy in Central Florida, primarily by creating job opportunities. Over 150,000 jobs throughout Florida are associated with the space industry in various ways. These jobs range from preparing launch vehicles to developing technologies for spacecraft, including guidance systems, navigation systems, and rocket propulsion.

The Kennedy Space Center, although the most well-known, is not the sole driver of the Space Coast’s economy. While it remains a prominent employer, other companies are also setting up shop in Florida. Established aerospace giants such as Boeing, Lockheed Martin, and United Launch Alliances have a presence there. Additionally, there are numerous new startups in the “new space industry,” including SpaceX and Blue Origin. These companies, formed during the dot-com era, have seen investments from’s funds, particularly benefiting Blue Origin. The growth of these companies not only provides high-paying job opportunities but also improves the overall quality of life in the Titusville, Brevard County, Orlando, and Daytona regions.

The space economy has implications beyond the Space Coast and the individuals working directly in the industry. It affects everyone’s daily lives to a greater extent than we may realize. SpaceX’s Starlink satellites, for instance, have greatly impacted global internet access. This satellite constellation provides internet services even to remote areas, positively impacting regions like Ukraine, where it has influenced the ongoing war. The space economy has a significant role in improving internet connectivity, which becomes crucial during natural disasters like hurricanes when traditional grids might fail.

As the space industry continues to grow, it will have a more profound influence on various aspects of our lives. Therefore, even for those who do not live near the Space Coast or work directly in the space industry, the space economy is worth paying attention to. Its advancements and innovations affect global connectivity, economies, and the overall quality of life for individuals around the world.