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The Center for NeoVation. PHOTO/NEOCITY
Osceola County’s technology park is back in business after more than a year of setbacks following the University of Central Florida’s departure.
But it will take years to gauge whether the $200 million investment of public funds in NeoCity is successful, officials close to the project said.
The goal is to bring higher-paying jobs to Osceola County, where low-wage agriculture and tourism jobs have dominated the economy.
“This is a long game,” said County Commissioner Cheryl Grieb, whose district covers the 500-acre technology park, which is home to one of only 20 semiconductor fabrication facilities in the U.S.
“This is not a short-term economic fix; this is a long-range tool to redefine and diversify our Osceola economic outlook.
“One primary role for government is economic development, and with the opportunities that exist with the continued growth at NeoCity, it’s important that we keep the momentum going.”
A private company, SkyWater Technology, replaced UCF and took over operations of the fabrication facility in February, moving the park away from research toward a focus on commercial manufacturing. SkyWater is also working as a sub-contractor for BRIDG, a nonprofit company established by UCF as part of the NeoCity project to fulfill $30 million in Department of Defense semiconductor contracts. County Manager Don Fisher and Osceola County School Board Chairman Clarence Thacker are BRIDG board of directors members.
“It’s a change in what the core value of what the place is, the core approach,” said Thacker, who previously worked as a paid consultant at NeoCity before becoming the unpaid chairman of the BRIDG board. “The private sector approach brings in a whole new level of credibility. It wouldn’t matter if it was UCF or Harvard that SkyWater replaced.
“Universities do research, but we have to be on the ground making things. I think you’ll see more and more companies come in here in the next four to five years.”
The county’s 50-year master plan for NeoCity shows a potential $25 billion economic output and 20,000 new jobs — a “game-changer” for the entire region, County Commission Chairman Brandon Arrington said.
“The County learned that the traditional economic development model of offering incentives to attract business was not bearing fruit. The County Commission decided to try a new approach – to provide infrastructure and education. Not only did we invest in creating an infrastructure at NeoCity to attract businesses that would diversify our economy, we are investing in education to train the future workforce,” Arrington told the News-Gazette in an email.
“This was the best way to define our path into the future. It is often difficult to explain the benefits of economic development but we believe that residents will reap the rewards of our foresight for many years to come. We took a different approach and ultimately market forces are converging in a manner that is favorable to the County’s investment of time, talent, and funding.”
