OSCEOLA COUNTY, Fla. \u2014\u00a0The new global headquarters for a South Korean manufacturing company is coming to Osceola County.<\/p>\n
Commissioners approved a new acquisition and development agreement<\/a> with the company ELSPES Inc<\/a>. on Monday to build their new facilities and headquarters at the NeoCity campus, Osceola County\u2019s technology district.<\/p>\n ELSPES is known for creating silicon capacitors, which are used in a wide variety of electronic devices.<\/p>\n \u201cThis project that we just gave an initiative to move forward on here in Osceola County is the largest economic development project in our history,\u201d Osceola County District 3 Commissioner Brandon Arrington said.<\/p>\n The two-phase project in total requires ELSPES to pay $470 million, according to the signed agreement, to build their facilities. Phase one of construction at NeoCity starts with ELSPES building its first facility and manufacturing equipment, which will cost $270 million combined.<\/p>\n Phase two is estimated to start in 2035 and be finished in 2038, and ELSPES plans to construct an additional facility and install more manufacturing equipment with an estimated cost of $200 million for this phase.<\/p>\n Assistant County Manager Amanda Clavijo said this will result in more than 600 jobs created.<\/p>\n \u201cWe’re projecting the first facility will have 300 jobs, and the second will have an additional 300. So those estimates don’t even include the temporary jobs created through construction,\u201d she said.<\/p>\n Clavijo oversees NeoCity\u2019s development in her role, and she said each facility will be 289,000 square feet.<\/p>\n Commissioner Cheryl Grieb, District 4, led the project and traveled to South Korea to create the connection two years ago with ELSPES, which opened the door for this investment. \u00a0<\/p>\n \u201cFlorida wasn’t on their radar, but to understand that what we’re doing here in the semiconductor industry, and of course, it relates directly with what they’re doing,” Grieb. We’re the only government defense contractor for the Department of War in the entire nation, which is really unique.\u201d<\/p>\n Grieb said she believes this step with ELSPES will pave the way for future international investment in Osceola County.<\/p>\n