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NeoCity's Impact on Osceola County: Federal Funding and Workforce Development

2024-02-19 12:19:52.414000

NeoCity, a collection of multiple tech firms in Osceola County, has received over $500 million in federal funding since late 2022. The funding aims to support the development of a full-scale chip manufacturing effort that would enable the production of products for 6G, supercomputing, autonomous vehicles, and advanced small satellites. However, the manufacturing at NeoCity has been delayed due to complexity and high cost, and the thousands of jobs it would bring are not yet on the horizon. The chip industry is currently in a down cycle, and the push to bolster domestic semiconductor manufacturing came after supply-chain issues during the COVID-19 pandemic. Despite the delay, NeoCity has created nearly 100 jobs and is on track to have over 200 jobs within its first five years of operation. The commitment to NeoCity is expected to diversify the local economy in Osceola County over the course of decades. To support the workforce needs of NeoCity, Valencia College and the University of Central Florida have created certificate programs and a semiconductor program, respectively. These programs aim to build a skilled workforce that can contribute to the growth of NeoCity. The jobs at NeoCity are expected to be among the highest paying in the area, providing economic opportunities for the community. [9e38b91b]

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