Florida Governor Ron DeSantis announced a nearly $6 million grant from the state’s Florida Job Growth Grant Fund to support roadway infrastructure between the Space Coast Regional Airport and Space Coast Innovation Park (SCIP), Hines' and Key Group’s 3.0-million-square-foot industrial project in the heart of Florida’s Space Coast that will feature three phases of Class-A space.

Hines is one of the first groups to deliver a modern industrial park to prospective aerospace and defense tenants seeking to enter or expand their operations in North Brevard County.

As the Wall Street Journal reported late last year, the Space Coast is an area seeing increased interest from a variety of prominent stakeholders as the rapid commercialization and privatization of the aerospace industry continues. This investment will help continue to build out the infrastructure needed to support jobs in the area, which is the epicenter of Florida’s growing space industry and home to one the nation’s largest concentrations of aerospace, defense and technology employers including Blue Origin, SpaceX, Boeing, Northrop Grumman, Lockheed Martin, L3 Harris, Amazon and others. The Space Coast economy is expected to generate more than $1 trillion in annual sales by 2040.

The funding of the roadway is ahead of schedule and represents significant positive momentum for Phase 1 of SCIP. The project will directly benefit from the investment as the road will extend from the Airport through SCIP’s Phase 1 and Phase 2 sites. The road through Phase 3 will be constructed at a later date.