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Space Florida Seeks Approval To Secure Funding For Two Secret Aerospace Companies

Two new private space companies could soon be calling Florida home. Space Florida wants to negotiate private investments for two secret companies that could create more than 100 high-paying jobs.

Space Florida’s board will vote Monday on two mystery projects code-named Prime and Midnight Blue.

The state agency wants to secure up to $125 million for Project Prime. In return, the company will create 73 jobs in the state with salaries of around $80,000.

Midnight Blue is seeking up to $12 million in investment, and in turn promises to create 42 jobs with a salary of around $68,000.

Space Florida’s Dale Ketcham said the money isn’t a tax incentive. Instead, the agency helps negotiate deals between the space companies and private investors like banks and venture capitalists.

“Nothing that we do is backed by the full faith and credit of the state, so there’s not taxpayer risk. We’re not betting with house money,” said Ketcham. “The private sector is very comfortable with the deals Space Florida has structured over the decades, so they are comfortable and confident with our understanding of what needs to happen.”

Space Florida is the state-agency responsible for bringing new aerospace business to the state. It has negotiated similar financing deals for Blue Origin and OneWeb Satellites on the Space Coast.

The board meeting in Tallahassee will be the first for Lieutenant Governor Jeanette Núñez as the new Chairwoman of Space Florida.

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Brendan Byrne

About Brendan Byrne

Space Reporter and 'Are We There Yet?' Host

Brendan covers space news for WMFE, everything from rocket launches to the latest scientific discoveries in our universe. He hosts WMFE's weekly radio show and podcast "Are We There Yet?" which explores human space exploration. Brendan is a native Floridian, born and raised in Broward County. He moved to ... Read Full Bio »