NASA has announced that the first manned launch of the Space Launch System, the replacement rocket for the space shuttle, will not occur until 2021.
Brevard County Florida is ground zero for the American Space industry and the recent loss of the Space Shuttle has hit the area hard. NASA and private companies have laid off thousands of workers as a result of the program closing. Shuttle related tourism has dried up. Many residents, businessmen and elected leaders had hoped that the next generation rocket would propel Brevard County out of the economic doldrums. Now, with the official NASA announcement, that rescue is many years away.
For the Space Coast, the economic environment is not looking so good and it may get much worse.
Unemployment for Brevard County in August was 11.7 percent. Which, considering the 12.1 percent unemployment rate in January is certainly a step better, but things may get worse before they get better.
Next on Congress’s chopping block is the defense industry. For the Space Coast, the defense industry is a second lifeline of economic support. If Congress moves ahead with the trillions in defense cutting over the next ten years as has been proposed, the fallout will have severe economic consequences for Brevard County.
Harris Corporation, Boeing, Northup Grumman as well as the Navy’s Trident submarine base, Patrick Air Force Base, Cape Canaveral Air Force Base all could fall under Congress’s cost cutting undertakings. No defense program will be safe under their axe. A continued loss of government programs in Brevard County will only exacerbate the already poor housing and employment conditions.
Home values for Brevard County have dropped 50% as a result of the combined effects of the national housing bubble bust and the loss of industry. Brevard County has almost 198,000 residential units and as of March 2010, 25,600 homes have gone into foreclosure which reflects a ratio of almost 1 out of 7.
An investment home needing minor repair can now be purchased for about $25.00 per square foot.
And there is no hope at the moment of anything getting better.
Local government agencies have frozen hiring.
School populations are falling in the north part of the county as people relocate to find work elsewhere.
Private industry seems to have stopped all but the barest minimal of hiring.
Many of those looking for work have had no success and many have given up hope. Those who are looking for work are finding fallen salaries, no call backs, and intense competition. Retirees have flooded the job market trying to shore up their declining asset base.
While Washington continues to argue about cutting deficits, and instead choosing to engage in “conflict politics” for those of us in Brevard County life has become challenging. Gone are the dreams of a better life, getting ahead and early retirement. Now, thoughts have turned to food stamps, keeping a job, and trying to get ahead of the next catastrophe.
Maybe it is time to change the “Space Coast” name to the “Coast of Lost Dreams”, which reflects the reality of the situation.