As a business state, Florida continues to show strongly in economic development rankings. In mid-2025, CNBC announced that it ranked Florida as the No. 1 economy in the nation for the third consecutive year, underscoring Florida's continued economic strength through strategic investments. Florida also rose to No. 3 in CNBC's 2025 ranking of best states for business, up two spots from 2024. In addition, Florida was ranked No. 2 for workforce development, further reinforcing Florida's commitment to building a competitive and skilled labor force.
Some of the highlights of the state’s economic development news are outlined below.
SpaceX Announces Expansion of Starship Operations to Florida’s Space Coast
In March of this year, SpaceX announced a significant expansion of its Starship program, bringing production, integration and launch capabilities to Florida’s Space Coast. The move marks a pivotal step in SpaceX’s mission to “make humanity multiplanetary” while enhancing U.S. leadership in space exploration and national security. In addition to ongoing infrastructure development at SpaceX’s headquarters in Starbase, Texas, the company is now focusing on establishing a robust Starship presence at NASA’s Kennedy Space Center and Cape Canaveral Space Force Station.
The expansion includes the construction of a massive new integration facility, dubbed Gigabay, adjacent to SpaceX’s HangarX at Kennedy Space Center. Standing 380 feet tall, Gigabay will offer approximately 46.5 million cubic feet of interior processing space and 815,000 square feet of workspace, equipped with 24 work cells, elevated platforms and cranes capable of lifting up to 400 U.S. tons. The facility is set to be operational by the end of 2026.
Danone Announces Opening of New $65 Million Production Line in Jacksonville
In June 2025, food and beverage company Danone opened a new $65 million production line at its Jacksonville facility. The expansion supports the growth of the company's coffee and creamer portfolio, creating nearly 200 new jobs. This expansion of the 115,025 square-foot facility, which has been a cornerstone of the Jacksonville community since 1948, supports the continued growth of Danone’s high-performing brands such as International Delight creamers and STōK Cold Brew Coffee. With 90 percent of Danone products already made domestically, the company is committed to having a strong, self-reliant domestic supply chain. Through this investment, Danone’s aim is to increase product availability on shelves nationwide and shorten the path from production to customer delivery.
Bauducco Foods Breaks Ground on Production and Distribution Facility in Zephyrhills
Bauducco Foods, a fast-growing cookie company, began construction in March 2025 on a new $200 million facility in Zephyrhills, near Tampa. It is expected to create approximately 600 jobs in the Tampa Bay area and will be completed in phases through 2030. Founded in 1952 by Italian immigrant Carlo Bauducco in São Paulo, Brazil, Bauducco is a global baked goods company, producing more than 400,000 tons of baked goods annually. Located on 72 acres at the Zephyrhills Airport Industrial Park Ready Site, Bauducco expects to invest more than $200 million into the facility, which will be used to produce and distribute its products across the United States. The facility will produce a variety of Bauducco's signature products, including biscuits, wafers and their signature panettones.
Williams International Announces Billion Dollar Investment in Northwest Florida
In May, Williams International announced a major capital investment expected to total more than $1 billion in Okaloosa County, placing the project among the largest in the history of the Northwest Florida region. The announcement followed a comprehensive, multi-state search initiated by Williams International in 2023. Williams International’s planned high-volume aviation gas turbine engine manufacturing facility will be constructed in three phases within the Shoal River Industrial Park. The company’s first 250,000-square-foot facility is slated to begin construction later this year, with completion scheduled for late 2026. Subsequent facilities will be constructed in 2028, with the final 500,000 square feet planned for the 2035-2036 timeframe. Headquartered in Pontiac, Michigan, Williams International is a leader in the design, manufacturing and support of aviation gas turbine engines.
Global Coaster Manufacturer Vekoma Rides Expands Americas Operations in Orlando
In April, Vekoma Rides, a designer and manufacturer of roller coasters and attractions for theme parks, opened its new and expanded office in Orlando. The strategic move highlights the company’s commitment to enhancing its presence and delivering exceptional products and services to its growing customer base in the region. The new office, located at 420 South Orange Avenue, will serve as the official headquarters for operations across the Americas and is expected to create new jobs over the next 18 months. The Orlando office expansion comes as the company continues to strengthen its presence in key global markets. Orlando Economic Partnership (OEP) supported the company’s site selection process by identifying and touring potential locations and facilitating introductions with key stakeholders. The project was made possible through collaboration between the OEP, the City of Orlando’s Economic Development Division and Foundry Commercial, which played a key role in securing the location for the new headquarters.
CMG Clean Tech Announces U.S. Expansion in Osceola County
CMG Clean Tech, a France-based leader in the green energy technology sector, announced an expansion of its operations to North America with the opening of its first U.S. flagship facility, Green Garden Village, in Osceola County. At the site, located on Pleasant Hill Road east of the intersection with Reaves Road, the company plans to invest nearly half a billion dollars in the construction of a renewable energy technology manufacturing park, creating 1,200 high-wage green technology jobs with average annual wages of $75,000 over the next three years. The Green Garden Village is a multiphase project. Plans include the construction of the company’s U.S. headquarters, a research and development facility along with seven manufacturing facilities, each with its own revenue stream and employee count.
Temenos Expands with New U.S. Innovation Hub in Downtown Orlando
In June, Temenos, a banking technology company, announced that its new U.S. Innovation Hub will be in the heart of downtown Orlando, marking a significant investment in the region’s growing technology ecosystem and financial services sector. Temenos has announced plans to recruit highly skilled talent for the Innovation Hub and has already created 50 initial tech jobs with a potential expansion in the near future, deepening the region’s growing reputation as a financial services and innovation hub. Temenos will locate the Innovation Hub in the Fulcrum building, 150 N. Orange Avenue in Orlando, and is expected to continue expanding over the next two years. The new facility will be home to product and technology teams developing cutting-edge banking solutions tailored for U.S. clients, leveraging emerging technologies such as generative AI (GenAI).
Foundational Builders Corporation Announces Florida Expansion
Foundational Builders Corporation (FB Corp), a national construction and structural retrofit company, has officially expanded operations into Florida. With a focus on structural integrity, hurricane resiliency and code compliance, the company brings experience from some of the country’s most complex construction markets with a goal of supporting Florida’s evolving infrastructure needs. The company is actively securing state-specific licensing, establishing partnerships with local contractors and collaborating with municipal leaders to ensure a seamless transition in several new markets, including Florida. By leveraging its approach, FB Corp aims to deliver large-scale projects with a focus on efficiency, durability and community impact.
L3Harris Expands Florida Facility to Support America’s Golden Dome
In April, L3Harris Technologies announced that it has completed a $100 million expansion at its satellite integration and test facility in Palm Bay to support the Department of Defense’s (DOD) urgent need for on-orbit technology for the Golden Dome for America. L3Harris’ new investment in Florida adds to the existing capability of the Space Coast. The expanded 94,000-square-foot facility was designed to produce next-generation satellites that will identify, track and defend against hypersonic and advanced missile threats. L3Harris’ investments translate to more than 900,000 square feet of new and renovated advanced manufacturing space nationwide to support the production of space-based missile warning and defense technologies, precision fire-control sensing, targets and propulsion and control systems for interceptors. T&ID
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