State approves up to $65M for Cape Canaveral space project ‘to cement Florida’s place in history’
Space Florida approved up to $65 million of state funds Wednesday to help stimulate a $1.8 billion launch site project in Cape Canaveral known as “Project Hinton.”
In a vote held by the state’s aerospace finance and development authority during a special project board of directors meeting, members approved matching grant funds sought by the unnamed company’s application of up to $50 million for construction of a “high-volume production facility, high bay and related infrastructure” through Space Florida’s Call for Projects within the Florida Spaceport Improvement Program in partnership with the Florida Department of Transportation.
It also approved $15 million in common use funds for “utility improvements including power modifications and industrial wastewater treatment.”
“While there may be much work to do, we look forward to partnering with Project Hinton and local stakeholders to cement Florida’s place in history for decades to come,” Space Florida CEO Rob Long said during a presentation before the unanimous vote.