‘Project Forge’ company is eyeing land in Titusville Airport, Florida to construct $350 million aerospace facilities. The firm is an unidentified aerospace company that seeks to build facilities for research, development and launch operations. Three weeks ago, Space Florida’s board of directors approved a request for conduit financing. The main focus of the approval was to facilitate the code-named aerospace initiative.

“Project Forge is continuing to move forward. It’s kind of been a moving target, but they do intend to make a decision this month,” Director of Airports Kevin Daugherty said during the Titusville-Cocoa Airport Authority board meeting. “And I also think at, probably a certain point here in the next couple months, (I’ll) probably sit down with board members individually, talk about the project,” Daugherty said. “Because I think it is coming here. So I’ll brief everyone on that,” he also said. There are various aerospace projects such as Janicki Industries aerospace manufacturing campus also making headway. The firm has selected Great Falls, Montana, as the site of its next major manufacturing campus in a US$800 million investment that will add two million square feet of production space over the next decade.

Outlook on the ‘Project Forge’ Aerospace Facilities Project

The ‘Project Forge’ aerospace facilities project as very scant information that has been publicly released. An airport agenda memorandum said the mystery aerospace company is working through due diligence on an authority-owned parcel. The land is adjacent to State Road 407 at Space Coast Regional Airport. “Forge is reviewing zoning, wetlands, access points, and also initial conceptual site layouts for the property,” the memo said.

Project Forge is a space-industry company, according to a PowerPoint slide displayed during Space Florida’s June 2 board meeting at Orlando International Airport. “The company intends to finance the project through tax-exempt and also taxable-productivity bonds with Space Florida as a conduit issuer, and also utilize other Space Florida programs,” Space Florida Interim Chief Investment Officer Ronald Lau told board members.

Project Overview

• Project Value: $350M
• Location: Space Coast Regional Airport, Titusville, Florida
• Project Type: Aerospace research, development, and launch facilities

Scope

• Proposed on airport-owned land near State Road 407
• Planned facilities for aerospace R&D and launch operations
• Company is currently conducting due diligence on the site
• Financing expected through tax-exempt and taxable bonds

Current Status

• Site evaluation includes zoning, wetlands, access, and layout reviews
• Project decision expected in the near term
• Space Florida has approved conduit financing support

Outlook

• Developer is expected to announce a final decision soon
• If approved, the project will strengthen Florida’s aerospace sector
• More project details are expected following completion of due diligence.