NeoCity receives grant of almost $51M; what it means for our economy

The county and its coalition partners will receive $50.8 million from the United States Department of Commerce’s Economic Development Administration to develop Central Florida’s semiconductor and microelectronics industry cluster.

The Central Florida Coalition was one of 60 finalists and more than 500 applicants. It was the only applicant in Florida to make it to the final round.

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The coalition’s plan aims to diversify Osceola County’s economy, which has traditionally been dominated by tourism and agriculture.

NeoCity serves as a manufacturing research center, specializing in a form of semiconductor manufacturing called advanced packaging.

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The manufacturing significantly reduces a microchip’s size, weight and energy consumption.

The federal grant will expand the fabrication lab and its manufacturing capabilities, creating high-wage jobs in the technology field.

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“This is a significant validation of Osceola County’s grand vision to create high-wage, high-tech jobs at NeoCity,” Osceola County Commission Chairman Brandon Arrington said in a statement. “The federal government’s investment accelerates our focused efforts to create more economic opportunities at a higher level than ever before.”

The coalition includes Osceola County Government, the Orlando Economic Partnership, the University of Central Florida, BRIDG, the Florida High Tech Corridor, SkyWater Technology and the Osceola Chamber.

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