NeoCity nabbed a half-billion in federal funds. But its impact on Osceola County is years away.
NeoCity touts its advanced semiconductor efforts as the future of Osceola County’s economy and part of the push for technological advancement across the U.S. But after a string of recent accomplishments, it’s clearer than ever that the project’s promise is still years from being realized.
Since late 2022, NeoCity — a collection of multiple, fledgling tech firms — has laid claim to an impressive half-billion dollars in federal funding. It’s created nearly 100 jobs and is on pace for 200+ within its first five years of operation. Still, a full-scale chip manufacturing effort, and the thousands or even tens of thousands of jobs that would bring, is not yet on the horizon.
“Building a new industry cluster takes a long time and we’re really thrilled with the last year and half with all these investments,” said Tim Giuliani, CEO of the Orlando Economic Partnership. “There’s always a risk of failure but … as this much money is being poured into one location from a variety of sources your chances of success just continue to go up.”