On April 20th, 2021… Floriday Today released an article (1) indicating that the Brevard County’s non-agricultural Job count has increased to 230,000 in March which is a 2,400 jobs gain from February. However, the writers of the article has found that this is still 3,100 below the March 2020 level. In our analysis, at this trend, Brevard County will most likely see a net gain of job count past the March 2020 level and potentially sustain its growth.
Furthermore, there are industry shifts occuring in the Brevard County employment data. Here’s the direct quote from the Florida Today Article:
The industries gaining in jobs over the year in Brevard included manufacturing (+1,100 jobs); construction, mining and logging (+1,000 jobs); professional and business services (+800 jobs); and financial activities (+400 jobs).
Industries losing jobs included leisure and hospitality (-3,000 jobs); education and health services (-1,300 jobs); government (-1,100 jobs); other services (-700 jobs); and information (-300 jobs).
In another Florida Today article, (2) Amazon plans to launch and deploy 3,200 low-earth orbiting satellites to create additional infrastructure for internet access. Based on our research, Amazon isn’t the only major company to compete for satellite and rocket development. Numerous companies have flocked to the Brevard County area to initiate what it seems like a new “Space Renaissance” which may fuel population growth in the area.
With the population growth anticipation, this will create demand for high quality housing. With the demand in housing will trickle into supporting businesses such as schools, restaurants, and services to support the community.
We, Miotti Partners Capital, believe that we have a tremendous opportunity with the job growth and competing space industry in the area. We will continue to monitor for additional updates and news.