Aerospace Innovators Help Diversify Local Economy

At the heart of any resilient local economy, you will find an industry diversification strategy. In the east central region of Florida, that strategy includes a focus on two specific industry targets -advanced manufacturing and aerospace technologies.

Although advanced manufacturing is itself considered a targeted industry that includes multiple sectors such as watercraft, medical technology, and consumer goods, it is the aerospace technology industry and the innovations emerging from it that generates the most buzz.

That shouldn’t be a surprise. With unequaled aerospace infrastructure, the creation of Space Florida, a steady investment in aviation and aerospace education and research, and the relentless marketing efforts of regional economic development organizations, business growth was bound to occur. And it has.

Well-known SpaceX, Blue Origin and Aerojet-Rocketdyne are now established at Cape Canaveral and are testaments to the work done to expand regional aerospace employment and commerce. But less known to most are the businesses emerging from local research and incubation programs.

In the upcoming Florida Venture Forum 2024 Florida Early-Stage Venture Conference, investors and attendees will be given a close-up view of several developing aerospace companies in the Space Florida AeroTech Summit. Of the nine companies presenting, three are Volusia County-based:

• MySky Eco Inc., Port Orange, is a startup aircraft manufacturer that is entirely self-funded.
• Ocellott LLC, Daytona Beach, is an electronics engineering company that creates innovative solutions to electrify the current and next generation of aircraft – the eVTOL (electric vertical takeoff and landing) – in a safe manner.
• VerdeGo Aero, Inc., Daytona Beach, designs and assembles power plants for the new, $10 billion electric aircraft market.

Also presenting at the Early-Stage Venture Conference in the Statewide Collegiate Startup Competition is Limitless Aeronautics, representing Embry-Riddle Aeronautical University, and the recent winner of the Volusia County Innovation Challenge pitch competition.

“The presence of four Volusia County companies at this high-level investor forum is a testament to the many institutions, like Embry-Riddle, that have devoted time and funds to diversify and grow our local economy,” said Lou Paris, Volusia County director of Economic Development.