MERRITT ISLAND, Fla. — Gov. Ron DeSantis announced on Monday that Terran Orbital will move its operations to the Space Coast.
The company is investing $300 million in the Space Coast, DeSantis said.
WATCH: DeSantis announces more than $114M to improve water quality in Florida
Terran Orbital will bring the largest satellite manufacturing facility in the world to Florida.
“We know that this will have a hugely positive impact on this area,” Gov. DeSantis said. “This builds on a lot of success we’ve had on the space coast in recent years.”
The company will also bring about 2,000 new jobs to the Space Coast, with an average salary of $84,000 by 2025.
“We will produce over a thousand satellites per year, and over a million satellite components per year,” Terran Orbital CEO Marc Bell said Monday.
WATCH: Space Florida works to bring U.S. Space Force training operations to Florida
DeSantis was joined by Florida Lt. Gov. Jeanette Nuñez and Space Florida CEO Frank DiBello.
Space Florida assisted Terran Orbital in obtaining third-party capital for the construction of its 660,000 square-foot facility, use some Florida Department of Transportation Infrastructure funds to assist with some improvements at its launch and landing facility.
“We’re blessed right now with an abundance of capital,” DiBello said. “And frankly, Florida has more opportunities than it does resources to respond do it. So it’s a good time for the industry growth.”
Terran Orbital plans to launch satellites for the government and commercial customers and is even working on its own satellite constellation.
READ: Governor Ron DeSantis approves acquisition of 20,000 acres for conservation
Click here to download the free WFTV news and weather apps, and click here to watch the latest news on your Smart TV.