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The Space Coast has a strong economic base consisting of space, aviation, defense, high tech, technology, tourism and the cruise businesses. In a recently released Brookings Institute report focused on the next generation workforce, Brevard County took the #7 spot on the list of metropolitans with the greatest share of Advanced Industries employment. The Palm Bay-Cocoa-Melbourne-Titusville metro was listed in impressive company with heavy technology hitters like San Jose, Seattle, San Francisco and it beat out Boston, Houston and San Diego to round out the top ten. This submarket is a great place to invest. Unlike any other section of Florida there is an industrial economic base in Brevard County.
The Brevard County economy has grown and diversified and expanded substantially since the economic downturn of ten years ago. Please note recent articles in the Wall Street Journal documenting this dramatic growth in the economic base. The Brevard County area is experiencing one of the highest growth rates in the United States. This submarket is currently in the top ten in population growth in the nation.
The Brevard County submarket is thriving and growing and unlike much of Florida is not economically dependent solely upon tourism and associated construction. The economic forces are very diverse, and dynamic. Northrup Grumman has constructed a large aviation manufacturing and engineering facility around the airport. Embraer has built a large manufacturing and engineering facility on the north end of the airport for the assembly of private jets. Harris Corporation corporate headquarters are located adjacent to the airport. Lockheed Martin, and Rockwell Collins have major manufacturing and engineering facilities in this immediate vicinity as well. Located in strong and economically diverse Brevard County with major employers including Space X, Blue Origins, Northrup Grumman, Embraer, Lockheed Martin, Rockwell Collins, Boeing, NASA, Harris Corporation, strong cruise and shipping industry, and large boat manufacturing industry etc. Unlike much of Florida, Brevard County has a large and rapidly expanding industrial economic base. This fits well with the traditional Florida tourist industry and provides for diversified economic forces in the area. Close proximity to Orlando provides a symbiotic relationship that compliments the theme park experience with the beach and coastal experience of Brevard County.
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