Space Florida's budget would shrink by two-thirds under Florida Gov. Rick Scott's proposed $65.8 billion state budget for 2011, which includes $4.6 billion in total cuts. Funding for the state's aerospace economic development agency would drop from $31 million to $10 million, according to numbers provided by the agency.
Funds for day-to-day operations, workforce development and business development would remain flat, at $3.8 million, $3.2 million and $3 million, respectively.
But $10 million in financing incentives intended to help lure new jobs as the shuttle nears retirement would disappear. However, the agency could recoup that money through competitive awards from a consolidated pool of incentive funds proposed by the governor.
Also not recurring is more than $11 million provided in the current budget year for launch complex improvements and Phase I development of Exploration Park outside Kennedy Space Center.
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