Osceola County leads in innovation by being one of only 21 regions in the country to win the Build Back Better Regional Challenge (BBBRC). There were hundreds of applicants, but Osceola County and its partners stood out and brought home $50.8 million from the U.S. Department of Commerce’s Economic Development Administration. This marks the first major U.S. investment in the nation’s microchip renaissance and Osceola County is at the center of it.
This BBBRC funding is more than a win. It’s a huge step in transforming Central Florida into a powerhouse for semiconductor manufacturing. This support will enable NeoCity to elevate its benefits, creating a better future that begins now.
What is the Build Back Better Regional Challenge?
The Build Back Better Regional Challenge is a $1 billion program from the Biden administration, designed to boost economic growth across the country. This program continues to support industry clusters with the power to transform local economies.
But the BBBRC was about more than just immediate economic gains. Its goal was to create good-paying jobs and ensure everyone had a fair chance to succeed. Challenge winners received significant funding to start projects that could reshape their communities. This program was a long-term investment, aimed at building stronger economies that would help communities thrive for years to come.
What Build Back Better Means for Osceola County
Osceola County has traditionally relied on tourism for economic growth, but like many communities, it has faced challenges in recent years, leading to a high unemployment rate. However, the county is now seeing population growth, which presents a valuable opportunity. With this momentum, Osceola County can diversify the local economy and bring more jobs for its residents, setting the stage for a stronger future.
The BBBRC funds will turn Osceola County into a global hub for semiconductor production. NeoCity has already drawn in top tech companies and investors, bringing major benefits to the local residents. Osceola County will see better infrastructure, more jobs, and economic growth. These changes help the community thrive and improve the quality of life for its residents.
“The future of NeoCity innovation is now! This Build Back Better Innovation Grant will help address the microchip shortage, lower costs and boost local high-paying jobs.”
– Congressman Darren Soto
The growth of NeoCity will create thousands of high-paying jobs in the tech sector. Part of the grants will go towards training local residents for these roles, providing them the opportunity to do something new and forward-thinking. This means people can find good jobs in cutting-edge industries without leaving Osceola County.
While we’re focused on creating jobs in the semiconductor industry, thousands of additional supporting jobs will be created in our community. New commercial and residential areas will bring Osceola jobs in several service industries. These new areas will not only support the growing workforce at NeoCity but also create vibrant communities that offer even more amenities to local residents.
Build Back Better’s Impact So Far
Construction and Completion of NeoVation Way
Osceola County opened NeoVation Way between Neptune Road and US 192, a crucial road that will boost local access to all the opportunities at NeoCity.
Purchasing 17 Advanced Packaging Tools
The first of 17 advanced packaging tools has been installed at NeoCity’s Center for NeoVation, advancing its capabilities in production and analysis.
Leading Community Engagement Events
This past fall, the Osceola Chamber Foundation held several information sessions and a roundtable to discuss the transformative impact of the Build Back Better Grant on NeoCity’s expansion and what it means for the locals.
NeoCity: Semiconductor Sync
NeoCity: Semiconductor Sync connects Osceola County’s community with the rapidly growing semiconductor industry at NeoCity. It links local workers, educators, families, and students with exciting tech career opportunities. In doing so, Semiconductor Sync empowers the community to be a key part of NeoCity’s success.
Local ideas and collaboration are crucial to Semiconductor Sync as well. The initiative seeks to connect the community with the Build Back Better Coalition board of directors. By involving local voices in decision-making, Semiconductor Sync guarantees that the community’s needs and visions are part of NeoCity’s growth.
Have thoughts on the BBB project? Send us your feedback!
We value your input on the Build Back Better (BBB) project at NeoCity. Your feedback helps shape the future of our community and ensures that the projects align with the needs and goals of Osceola County residents. Please share your thoughts, ideas, or concerns through the form below. Together, we can create success today and far into the future!