Exploration Park and Tampa, Fla. (October 4, 2019) – In a groundbreaking ceremony at the Tampa International Airport today, Space Florida joined the Hillsborough County Aviation Authority and the Tampa Hillsborough Economic Development Commission in welcoming the new CAE USA, Inc., headquarters to Florida.
CAE USA, Inc., provides world-class training and simulation for the U.S. Department of Defense and allied defense forces. The new campus will support the aerospace training hardware with a 102,000 square-foot facility and host a 133,000 square-foot building to serve as the home office with 500 retained employees and 150 new employees, with an average annual salary of $80,000.
The project is a public-private development partnership between the company, the Hillsborough County Aviation Authority, local economic development partners and Space Florida, in which Space Florida is developing a campus for the company directly on Tampa International Airport.
Space Florida lease structures provide a multitude of benefits to companies like CAE USA to include below-market lease rates. Also, given the nature of synthetic leases, it is anticipated that much of the overall lease cost to CAE will be eligible for reimbursement as a Department of Defense customer.
“Governor DeSantis and I are committed to catapulting Florida into the 21st century with a focus on high-tech jobs. We welcome CAE USA, Inc. to Florida, and thank them for their vote of confidence in expanding its aerospace presence in Tampa,” said Lt. Governor Jeanette Nuñez. “This is not only encouraging, it represents a further enhancement of the industrial capability of the Sunshine State to meet the needs of the marketplace well into the future.”
“Space Florida is excited to apply its unique toolkit to facilitate CAE’s continued growth in the Tampa Bay region,” said Frank DiBello, President and CEO of Space Florida. “To expand industrial capability of the State while enhancing the economic impact of Tampa International Airport, in collaboration with our local and State partners, is exactly why Space Florida was chartered by the legislature.”
“By way of their partnership with Space Florida, CAE and its shareholders are saving somewhere in the neighborhood of $20 million, hence the inducement [for CAE] to remain in Florida and grow,” said Michael Fisher, Director of Project Management for CBRE.
The company has retained EDGE Architecture, Inc., for design services and to deliver complete set of construction documents to Space Florida. Space Florida will then competitively procure construction management services to deliver the project. In a traditional developer role, Space Florida is also securing third-party conduit financing, the proceeds of which will be utilized by Space Florida to construct the facilities. Construction is anticipated being completed in the first quarter of 2022. Once complete, Space Florida will lease these built-to-suit facilities to the company under long-term lease agreements. Afterward, the assets will then revert to Tampa International Airport for their use or redeployment.
About Space Florida: Space Florida was created to strengthen Florida’s position as the global leader in aerospace research, investment, exploration and commerce. As Florida’s aerospace and spaceport development authority, we are committed to attracting and expanding the next generation of space industry businesses. With its highly trained workforce, proven infrastructure and unparalleled record of achievement, Florida is the ideal location for aerospace businesses to thrive – and Space Florida is the perfect partner to help them succeed. www.spaceflorida.gov