MERRITT ISLAND, Fla. – Terran Orbital, a micro-satellite company, plans to invest $300 million in a massive commercial spacecraft and constellation facility on Merritt Island, Gov. DeSantis and the company announced Monday.
The investment will bring 2,000 jobs with an estimated annual salary of $84,000 to the Space Coast, DeSantis said.
“It’s currently estimated that more than 50,000 satellites will be deployed by 2030 and if those estimates hold up, we will end up launching four times the number of satellites in the next decade than in the previous six decades combined,” DeSantis said. “So we’re excited here with this move and we know that this will have a hugely positive impact on this area.”
The facility, which could be the largest in the world, will be located at Space Florida’s Launch and Landing Facility, the former landing site for the Space Shuttle Program next to Kennedy Space Center.
Terran Orbital CEO Mark Bell said Florida is the perfect place to grow the business.
“To be fair, you probably never heard of us till today, and that’s okay,” Bell said. “We’re currently listed on billions of dollars of U.S. government programs and growing at an incredible rate. For us, Space Florida is a perfect place to tell about who we are and why we’re going to continue to dominate the small satellite marketplace.”
The facility is expected to open by the end of 2025.