The British are Coming ... to Team up with Space Florida

Space Florida and U.K. Trade & Investment today signed a formal memorandum of understanding to pursue commercial space opportunities. It was the first such agreement between the Florida space agency and a foreign government.

Strategic, international partnerships are critical to the viability and growth of future U.S. commercial space programs, said Space Florida President Frank DiBello. Todays event marks a significant step forward toward ensuring Floridas numerous space assets -- both physical and intellectual -- are leveraged by the global space marketplace.

Director-General, Trade & Investment USA, Sir Alan Collins said:

The commercial space industry is a major growth opportunity for the U.K. Since 2009 the U.K. has been ramping up its space industry activities, opening the European Space Agencys R&D facility at Harwell, establishing the U.K. Space Agency and forming the Space Leadership Council.

"For Floridas space industry companies, the U.K. is the natural partner of choice with whom to explore R&D opportunities globally as it offers a springboard into the European markets and the world.

Space exploration currently represents an $8 billion industry in Florida, with more than 2,000 related companies and a 65,000-plus person work force. The state accounts for 3 percent of the global space marketplace.

Britain currently has a 6 percent share of the global space market, and the sector is growing by an average of 9 percent per year. The country leads the world in satellite manufacturing and space applications.

The United Kingdom is already the top source of foreign direct investment in Florida in terms of jobs created, with U.K. firms employing more than 45,200 Floridians and $3.9 billion in capital stock invested in 2009.

About 335 U.K. subsidiaries operate in Florida, roughly one-third of all U.K. firms in the United States.