Keystone Heights Airport and the Rana Group have entered into early-stage negotiations for a ground lease tied to a proposed aerospace and aviation development in Clay County, northeast Florida, according to a joint statement released March 30. The project, referred to as “Erisha Silicon Valley-Florida,” has not received final approvals and remains subject to ongoing negotiations and regulatory review.

The airport is located southwest of Jacksonville in Keystone Heights. The proposed development would span approximately 700 acres at the site and could attract more than $10 billion in investment, although no financing structure or committed funding sources were disclosed.

Preliminary plans

Preliminary plans outline a large-scale aerospace hub incorporating commercial hangars, aircraft storage and paint facilities, and a maintenance, repair, and overhaul (MRO) complex. The proposal also includes aerospace component manufacturing buildings, two advanced composites processing units, and a prototype assembly and testing hangar.

Supporting infrastructure under consideration includes a logistics and distribution center, as well as research and development facilities focused on aerospace, robotics, and aviation systems. Administrative offices, conference facilities, and aviation-focused education and workforce training centers are also planned, according to the statement.

The project would incorporate hydrogen-based technologies, including facilities intended to retrofit aircraft, helicopters, and ground vehicles for hydrogen use. Plans also reference the potential development of hydrogen fueling stations and charging infrastructure. No technology partners, energy supply arrangements, or permitting status for these systems were disclosed.

James O. Eifert, chairman of the Keystone Heights Airport Authority Board, said the initiative could support regional economic development and job creation, according to the statement. Darshan Rana, chairman of the Rana Group, said the project is intended to integrate aerospace manufacturing, maintenance, and research functions within a single campus.

The proposal also includes manufacturing capacity for aviation ground handling equipment and support vehicles, aimed at creating a vertically integrated aerospace ecosystem.

Key Unknowns

Key project details—including development timeline, construction phasing, anchor tenants, regulatory approvals, and final lease terms—have not been released. The agreement between the parties initiates negotiations and does not constitute a finalized development plan.

The project aligns with broader growth in U.S. aerospace manufacturing and emerging interest in alternative aviation fuels, though its advancement will depend on securing approvals, infrastructure, and investment commitments.

The $10B Erisha Silicon Valley–Florida aerospace hub at Keystone Heights is envisioned as a large-scale aerospace and hydrogen aviation ecosystem, similar in concept to the Advanced Manufacturing District (AMD) at El Paso International Airport.

Project Factsheet: Erisha Silicon Valley–Florida (Proposed)

Project Name: Erisha Silicon Valley–Florida

Location: Keystone Heights Airport, Clay County, northeast Florida (southwest of Jacksonville)

Project Type: Aerospace and aviation manufacturing and innovation hub

Status: Early-stage; ground lease negotiations initiated (no final agreement)

Site Area: 700 acres

Estimated Investment: $10 billion (conceptual; not yet financed)

Core Components (Planned)

• Commercial aircraft hangars
• Maintenance, Repair, and Overhaul (MRO) facility
• Aircraft storage and paint hangar
• Aerospace component manufacturing facilities
• Two advanced composites processing units
• Prototype assembly and testing hangar

Supporting Infrastructure (Planned)

• Logistics and distribution center
• Aerospace and robotics R&D center and test labs
• Administration and conference facilities
• Aviation education and workforce training centers

Energy / Sustainability Features (Conceptual)

• Hydrogen retrofit facilities (aircraft, helicopters, vehicles)
• Hydrogen fueling stations (H2)
• Electric charging infrastructure

Additional Manufacturing Scope

• Ground handling equipment
• Aviation support vehicles

Developers / Stakeholders

• Keystone Heights Airport Authority (site owner/operator)
• Rana Group (development partner)

Key Unknowns

• Development timeline and phasing
• Financing structure and committed capital
• Anchor tenants or end users
• Regulatory and permitting status
• Infrastructure (power, hydrogen supply) partners

Development Significance

• Large-scale aerospace manufacturing cluster (proposed)
• Integration of MRO, production, and R&D in a single site
• Includes early-stage hydrogen aviation applications