Home prices are rising and today’s mortgage holders are reaping the rewards. A reward of nearly $457 billion collectively, to be exact.According to Corelogic’s 2019 3rd Quarter Homeowner
Brevard County Economy: Job Growth, Leading Industries & Ample Opportunities
Brevard County’s economy is on the rise. Over the next 10-years employment is expected to increase by 36.80%. Not only are there lots of local job opportunities, but also, thanks to Florida’s 0% income tax, residents take home more money than in most other states.
Income per capita is $27,440, including adults and children. The median household income is $49, 099.
Brevard County Job Opportunities: Which Occupations Are Most Common?
Population by occupation:
Management, business, finances: 13.32%
Engineering, computers, and science: 8.24%
Community and social services: 1.42%
Education, library: 5.42%
Arts, design, media, sports, and entertainment: 1.44%
Healthcare practitioners and technology: 5.68%
Healthcare support: 3.16%
Firefighters, law enforcement: 2.87%
Food preparation, serving: 5.98%
Building maintenance: 4.19%
Personal care: 3.37%
Sales, office, and administrative support: 25.50%
Farming, fishing, and forestry: 0.27%
Construction, extraction, and maintenance/repair: 8.61%
Production, transportation, and material moving: 9.72%
Top Employers In Brevard County
Wide ranges of industries excel in Brevard County including government agencies, public and private employers, as well as small mom-and-pop businesses. The largest employers in Brevard include…
The Brevard County School Board employs 8,500 people including teachers, other school system employees, and school board members. The local school board remains the largest employer in Brevard. Other educational institutions that largely contribute to employment include Eastern Florida State College and Florida Institute of Technology.
The hospital and health service industry ranks next on the list of top employers. The employment leaders in this industry include Health First, Health Management Associates and Parish Medical Center.
NASA canceled their Space Shuttle program a number of years ago, but there are still a lot of opportunities in the aerospace industry. Large contractors in the local space industry include URS Corporation, Lockheed Martin Space Systems, United Launch Alliance, Rockwell Collins Inc. and Northrop Grumman Corp.
Harris Corp is another large-scale employer in the high tech industry. They are contracted for government, military and commercial projects. Other local tech companies include DRS Technologies, Symetrics Industries, Craig Technologies and Intersil.
RELM Wireless Corp was locally founded and excels at developing two-way radios for a variety of agencies. Globe Wireless is another key name in Brevard’s integrated network and maritime industry.
Leading Brevard companies in the manufacturing department include Knight’s Armament, MC Assembly, Vectorworks Marine and Lighting Science Group.
The new Embraer executive jet headquarters recently opened a brand new assembly building for the Legacy 450 and the Legacy 500.
As of 2011, the AAR Corp. operates airlift services and specialized aircraft business at Melbourne International airport in Palm Bay.
Government jobs represent another large sector of Brevard’s employment force. Many residents work for county and city government agencies.
Emerging Companies in Brevard
The emerging space race between Jeff Bezos (Amazon) and Elon Musk (Tesla) is expected to give local jobs in Brevard a big boost. Bezos is busy constructing a $200 million complex for his Blue Origin Company in Brevard. Once completed, this will add around 300 jobs at Cape Canaveral. Growth in private sectors is expected to spur additional job growth for small Central Florida firms.
According to Space Florida’s Dale Ketcham, the arrival of private industries could reduce political influence. He said, “It will become a pure market here. There will be more natural economic pressures to respond to.”
Brevard has maintained its reputation as a global leader in the space industry for decades. Well known as the Space Coast, Brevard is home to a qualified pool of workers as well as the right infrastructure to support this exciting and high-tech industry.
Tech Companies In Brevard
Brevard is considered a hot spot for high technology including aviation, avionics and aerospace. Just 1-1/2 miles from downtown Melbourne, the Melbourne International Airport is a booming nucleus for aviation manufacturing and other supplies and services. Several tech companies that originally operated out of airport facilities have since built their own factories in the area to keep up with demands.
These companies could go anywhere but they choose to stay here because of Brevard’s business-friendly economy and highly skilled workforce, in which there are 48 engineers to every 1,000 workers.
Even after NASA closed down its space shuttle program, rocket launches continue to take place at Cape Canaveral and Kennedy Space Center. United Launch Alliance employs 600 people in the area, they regularly launch navigation, missile warning, communications and reconnaissance satellites into orbit for the U.S. military.
Rocket Crafters, originally based in Utah, is now based out of Brevard and employees over 1,000 people.
Clearly, the technical and space-related opportunities in Brevard are out of this world, literally and figuratively.