KISSIMMEE, Fla. — Osceola County continues to strengthen its position as a leader in advanced manufacturing and technology with the announcement of a $470 million semiconductor investment at NeoCity, which county officials say is expected to bring more than 600 high-wage jobs to the region.
The Osceola County Board of County Commissioners has approved a development agreement with ELSPES, Inc., a South Korea-based semiconductor company that plans to establish its U.S. headquarters and manufacturing operations within the NeoCity technology district.
The nearly 40-acre site will represent the largest private footprint at NeoCity to date, signaling a major milestone in the county’s long-term vision of building a globally competitive semiconductor and advanced manufacturing hub.
ELSPES specializes in high-performance silicon capacitor technology, which is used in a wide range of applications including artificial intelligence systems, automotive technologies, and aerospace platforms. The company’s expansion into the United States places it in close proximity to key customers and partners, positioning it to accelerate innovation and expand its market presence.
“This is exactly what we set out to do,” said Brandon Arrington, Chairman of the Osceola County Commission. “Build an ecosystem that attracts world-class companies while creating pathways for our residents to access high-wage jobs, develop new skills, and grow into the jobs of the future.”
The project will be developed in two phases, with each phase adding approximately 289,000 square feet of manufacturing and research space. In addition to its economic impact, the development is expected to further enhance workforce development opportunities in Osceola County, aligning with ongoing efforts to prepare residents for careers in high-tech industries.
County officials noted that the agreement includes performance-based incentives tied to job creation and long-term capital investment, ensuring that the project delivers measurable benefits to the community over time.
The addition of ELSPES further solidifies NeoCity’s reputation as a rapidly growing semiconductor ecosystem in Central Florida, attracting global investment while fostering innovation and economic opportunity for Osceola County residents.
