A new Economic Impact Study by The Washington Economics Group Inc. (WEG), an economic consulting firm based in Coral Gables, Florida, finds the research park well on its way towards fulfilling that promise. “Embry-Riddle’s Research Park is a significant generator of economic activity in Florida, creating over (direct and indirect) 500 jobs, most of which are high-wage.” The park has also boosted the local economy by more than $90 million, according to the report .
The $21 million, 50,000-square-foot John Mica Engineering & Aerospace Innovation Complex became the park’s first completed building when it opened in April 2017.Since then, the park has added two more. The $10 million 14,000-square-foot Wind Tunnel opened in June 2018. It was followed in October by the opening of the $5 million Eagle Flight Research Center. The research park today is home to more than a dozen startup companies. They range from businesses involved in developing aerial drone technology and autonomous vehicles to a company working on developing a hybrid power source for flying cars.—-read full article