Budget conference: Space Florida lands $6 million from lawmakers

Florida from space.

Looks like Space Florida funding has come in for a landing.

The latest offer from the Senate Transportation, Tourism and Economic Development Committee budgets $6 million for Space Florida. That matches funding already included in the House budget, docking that funding in the economic development silo in both chambers’ budgets.

The economic development organization works closely with the state and serves as the lead entity driving private investment in the state’s aerospace industry.

This year serves as a bit of a swan song for Frank DiBello, the retiring President and CEO of Space Florida. The organization landed in the Capitol in February to lobby lawmakers on Space Day, and that has apparently paid off in dollars.

The organization in January showed a continued skyward arc on the economic benefits of spaceflight to Florida’s economy. Since Space Florida’s 2007 launch, economists have documented a $5.9 billion economic impact, and predict space companies can generate $1 billion in economic activity annually for Florida within the decade.

“The qualitative and quantifiable economic impacts of Space Florida are significant, and have been steadily increasing over the last 15 years due to Space Florida’s operating and financing projects as well as capital investment by clients,” reads the report from The Washington Economics Group (WEG).

That proved a successful lobbying launch with lawmakers this year. A $6 million investment would be a bargain for a $1 billion economic return.

But of note, both chambers fund Space Florida with non-recurring dollars from the general fund. That means lobbyists will need to make return trips to the Capitol to justify continued investment in the future.

Budget conference subcommittees will meet throughout the week to resolve differences in each area. When remaining issues reach an impasse, they will be “bumped” to the full budget conference committee.

Lawmakers must reach an agreement on a final spending plan by May 2 to meet the 72-hour “cooling off” period required by the state constitution before they can vote on the budget to avoid pushing the Regular Session past its scheduled May 5 end date.