The State of the Aerospace Industry on the Space Coast
Posted: September 21st, 2021
How the Space Coast Got its Name
Florida’s Space Coast got its name from obvious sources. Beginning in the 1950s, Cape Canaveral served as one of the primary launch sites for the country’s space exploration programs. Several major aerospace and defense corporations also established headquarters in the area. Over time, space exploration became ingrained in the culture of the area, inviting tourists, scholars, and workers to our region like never before.
However, the retirement of the Space Shuttle program left many locals wondering about the future of the Space Coast. After 135 missions, the Shuttle program officially wrapped up on July 21, 2011, citing concerns over expenses, efficiency, and safety. As NASA determined their next moves, they also worked on transforming the Kennedy Space Center into the headquarters of the future of space travel.
Reconfiguring the Kennedy Space Center
According to Eric Wright of FIT, NASA and KSC leadership understood the importance of diversifying the Space Coast’s economy following the retirement of the Shuttle program. They rearranged the Space Center to make it viable for multiple users to occupy the facility, opening the door to commercial space programs and, eventually, space tourism.
After executive jet company Embraer established their North American headquarters on the Space Coast, other aerospace and defense companies followed suit, including SpaceX and Blue Origin. Additionally, businesses that already had an established presence in the area, like Boeing and Northrop Grumman, expanded their operations.
Now, the aerospace and defense industries on the Space Coast show no signs of stopping, even in the face of the COVID-19 pandemic. Last year, SpaceX launched the first manned spaceflight from American soil since the shuttle’s retirement, according to Astronomy.com. Commercial programs continue to develop, and there have even been rumors of an interstellar hotel in the works within the next decade or so. More recently -- this year, in fact -- history was made once again when SpaceX launched Inspiration4, the first all-civilian mission to orbit.
How the Aerospace Industry Affects the Space Coast
When the Shuttle program ended, many former NASA employees left the Space Coast in search of other opportunities. Now that we’re experiencing another aerospace industry boom in the area, however, it’s an entirely different story. According to News13, NASA currently employs 33,000 people in Florida and makes a $5.9 billion impact on the Space Coast.
Space exploration is a recurring theme in local culture, and for good reason: the people who have come to the Space Coast for aerospace and defense-related opportunities have brought an influx of capital to the area, benefiting other sectors like retail, real estate, and hospitality.
What’s more, as interest in spaceflight increases, Central Florida is becoming a major destination for the brightest minds in the industry. Florida Tech has included a number of specialized aerospace courses in its curriculum to attract established scholars and to give the next generation of engineers all they need to excel. According to Dr. Daniel Kirk of FIT, “I think the potential for Central Florida and the Space Coast to be the epicenter of intellectual capital for space exploration and the technologies that are derived from that...is very real. And Florida Tech...continues to make investments that will be an attractor and a catalyst for others to invest here, as well,” he says.
The Space Coast Lifestyle
Life on the Space Coast has a lot to offer, whether you’re coming for a job opportunity or are simply looking for a change of pace. We have the unique opportunity to enjoy breathtaking natural scenery alongside the spectacle of incredible technology. Not many other people can boast that they witnessed a recent launch from their backyards. Our economy is thriving and there’s something for everyone in regards to amenities and entertainment.
If you’re ready to experience the Space Coast lifestyle, contact the team at Ellingson Properties at 321-750-7050 today. Our team of real estate professionals is ready to help you find your dream home in Brevard County.