The project has drawn investment from UCF, Osceola County and Enterprise Florida, among other public and private entities. The center is projected to have 250 high-tech jobs when it opens in 2016.
The Osceola County Commission voted in February to approve up to $67.5 million in bonds to fund the project. Osceola County will invest $87 million for construction and equipment, and contribute nearly $138 million overall.
UCF will provide $10 million from non-public sources to aid construction and $7 million more in faculty hires. The facility will be leased and operated by UCF for $1 per year over 30 years.
The center could receive another $220 million in federal funding later this year to build an Integrated Photonics Institute for Manufacturing Innovation. UCF is leading a team of five universities and industry partners to create that institute at the smart-sensor facility in Osceola, if it wins a federal bid. The U.S. Department of Defense is expected to award $110 million for the project later this year, which would be matched by private industry investment.
FAST FACTS Location: Built on 20 acres of property owned by the county and previously known as Judge Farms, near the intersection of Florida Turnpike and U.S. 192. Owner: Land is owned by Osceola County, while facilities are owned by the International Consortium for Advanced Manufacturing Research Start Date: October 2014 End Date: Late 2016 Project Budget: Construction is projected to cost about $70 million, with total project cost to reach $270 million General Contractor:Skanska USA's office in Orlando, for a contract of up to $10 million for preliminary design and building services. Description: A 100,000-square-foot research and manufacturing facility that will develop and produce cutting-edge products like smart sensors and photonics devices.