Recently Approved Development Could Bring 2,700 Jobs To Florida And Be "Economic Gateway"

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New developments in Florida are approved every day. Due to Florida's rapidly growing population, Florida arguably needs new mixed-use properties that will provide housing, office, retail, and industrial spaces. A new development that was just approved in Pasco County may do just that.

The Details: In May of 2024, Pasco County commissioners approved a massive mixed-use project at Interstate 75 and State Road 52. The project will include 3 million square feet of light industrial usage, 500,000 square feet of office space, 1,550 apartments, and 600 single-family homes.

The project could reportedly bring $136 million in property taxes over the next two decades and $327 million per year to the county’s gross county product.

Officials reportedly indicated that the project could bring up to 2,700 new jobs and create an "economic gateway" to Pasco County.

Incentives For Developers: The county will reportedly be paying out $29 million in tax credits, but they will not occur until points of construction are completed.

Timeline: Planning and Economic Development Director David Engel has indicated that the incentives are partly meant to encourage quick completion.

It is possible that road and utility construction could begin by 2028. Egel says that moving quickly is important because:

"We want to speed up the development so we can capture all of the economic development that will transpire in the region. Now that I-4 is being built out this is the next place to create jobs and pay taxes."

The Double Branch Project: This location in Pasco County is seeing much development. Work has already begun on another major project in this general area. In the fall of 2023, ground was broken in San Antonio, Florida for a 956-acre site that will include four million square feet of industrial development, 400,000 square feet of retail, and 725,000 square feet of office space.