Economic Development
Economic Development Makes Dollars and Sense
Did you know?
For every $1 paid in property taxes, citizens use $1.19 in services. Businesses use just $.29 in services.
Businesses help balance the tax base. The greater their investment in Hernando County, the more balanced our tax base becomes, lessening the burden on the resident taxpayer.
Focus Areas
Space Hub Business Incubator
1.) The Space Hub Business Incubator is a proposed incubation center, located within the Dennis Wilfong Center for Sucess, that is focused on advancing space technologies in the heart of Hernando’s Technology Center.
2.) According to the National Business Incubation Association, about 87% of businesses that graduated from an incubator were still operating after five years.
The Simpson Technical College (STC) and The School District plan to…
1.) Develop programs, workshops, and activities that provide students with the opportunity to engage with aerospace concepts and technologies.
2.) Provide resources, mentorship, and guidance to student entrepreneurs.
3.) Collaborate with the incubation center on academic-industry partnerships focused on advancing space technology innovation and addressing key challenges in the field.
4.) Engage students in hands-on learning experiences, competitions, and projects related to space technology, as well as promote awareness of space-related career pathways and opportunities through outreach initiatives and partnerships with industry stakeholders.
The County will use Whole Cent Sales Tax to…
1.) Manage the overall operation of the incubation center functions.
2.) Manage incubation center facilities, such as the rentals of office space to incubation center participants.
3.) Design and implement programs and services to support startups and entrepreneurs, such as mentorship programs, networking events, and educational workshops.
4.) Engage with the local community to build support for the incubation center and raise awareness about the importance of innovation, potentially through outreach events, educational programs, or public forums.
- Hernando County Schools and Dr. Dennis Wilfong Center for Success
- Hernando County Government and the Office of Economic Development
- Greater Hernando Chamber of Commerce
- CareerSource Pasco Hernando
- Pasco-Hernando State College
- Hernando Progress
- Space Florida
A space hub incubator center can increase entrepreneurial success and strengthen communities.
A report by the US Economic Development Administration (EDA) found that for every $1.00 of public investment in business incubation programs, approximately $30 of local economic impact is generated
Infrastructure
Specific goals of the KV IIDP Study include:
- Provide an efficient layout for future development aligned with the county’s land use and the airport demand.
- Evaluate the airport’s vision to attract new business and create new demand.
- Coordinate development with short-term projects proposed at the airport by existing and potential future tenants.
- Identify the necessary drainage and utility improvements to provide a flexible and scalable system for a variety of different business needs.
- Generate an implementation plan that prioritizes development areas that could be fast growing, easier to implement, and tied to the airport’s ongoing marketing efforts.
- Prioritize capital investment projects that create jobs.
- Review and identify landside facilities that are currently or anticipated to be needed to accommodate future aviation activity while fully meeting FAA design and safety standards.
To maximize available airport land use, an Infield Infrastructure Development Plan is underway. This study expands on the overall Airport Infrastructure Development Plan begun in 2020. In this phase, the study evaluates alternatives for landside developments including new roadways and security improvements. Proposed development alternatives will reflect efficiency and facility requirements as well as implementation, costs and other factors. Airport staff and other Hernando County leadership will use the information contained in the plan to maintain, plan for and develop infrastructure within the airport’s infield development area.
Target Industries
Hernando County’s west central location affords accessible ground transportation essential to business. Crossed by five major highways and truck routes, shipping and receiving is a breeze. On the east side, just one mile from Interstate 75 and State Road 50 – central Florida’s east-west corridor – and 40 miles from the Florida Turnpike – several developers are planning large scale projects.
Hernando County has a significant manufacturing presence including aerospace supply, electronics, plastic injection molding and machine shops. Well-positioned for new and complementary businesses, an infusion of new training programs boosts a strong talent pool with in-demand skills.
Brooksville – Tampa Bay Regional Airport & Technology Center (BKV) is home to array of aviation businesses. New roadways reveal premium runway-adjacent land for development.
As the healthcare industry continues to expand, health care businesses use competitive wages and employee a large number of people.
To recruit leading healthcare and medical- related industries, infrastructure for large and sophisticated facilities requires funding.
Hernando Country is staged to be a significant manufacturer for the space industry. Located only 3 hours to launch from the space coast, Hernando County is an ideal area for the supply chain. Trained workforce in the school system focuses on creating jobs and opportunities for the next generation through the space hub business incubator. Investments in infrastructure are needed for supply chain businesses to grow right here in Hernando County.
Why Invest in Economic Development?
Attracts Capital Investment
Whole Cent Hernando will help attract new business and support local expansions, boosting capital investment and leveling the tax base throughout the community. With ready infrastructure and sites for development, target industries of aviation, aerospace, manufacturing and logistics will bring high-quality jobs and raise the average annual wage rate for the county.
Boosts Job Creation
Whole Cent Hernando will accelerate the momentum of recent successes. Ensuring that companies stay here as they expand is powerful but requires the infrastructure for them to develop and grow. Recent expansions represent many acres of land development, facility square footage, parking, and millions of dollars in capital investment with high-wage jobs. Barrette Outdoor Living, Pem-Air Turbine Engine Services and Global Jetcare are companies that could have expanded elsewhere but were retained in Hernando County.
Increases Community Wealth
Attracting new targeted industries and retaining businesses that are expanding elevates community prosperity. Whole Cent Hernando will help fund the infrastructure required to be competitive as a business location. Companies seeking sites to locate their business require readiness. They need to quickly settle in, hire, and open their doors. Time is money and they will not consider land that lacks infrastructure. Instead, they will select another location that recruits them. Whole Cent Hernando will help ensure competitiveness. Long a commuter-driven community, high-wage employers will ensure more people will work where they live, stimulating the local economy. Target industry employers may drive home purchases and other positive contributions among employees and their families.
Builds On Airport Potential
A powerful economic engine, the 2,400-acre Brooksville – Tampa Bay Regional Airport & Technology Center (BKV) still has approximately 1,000 available acres to develop. About half of that, the property between BKV’s runways, is a prime location to house target industry facilities. There, large structures can be built for aircraft service, repair and storage, as well as related manufacturing enterprises. Whole Cent Hernando will help fund the mid-field infrastructure needed to ensure development of over 2M productive square feet. Without roads, water, sewer, gas, or technology, that property is not currently eligible to welcome business.