According to GrowthSpotter, Osceola County is moving forward with NeoCity South, a second technology park in St. Cloud that expands the county’s high-tech economic development strategy. The 323-acre site, purchased last year from D.R. Horton for $17.3 million, is located along Cross Prairie Parkway at the upcoming W. Nolte Road interchange on Florida’s Turnpike, scheduled to open in 2028.

The move would position the site as a high-value industrial and technology hub, preventing residential encroachment and reinforcing its NeoCity branding. NeoCity South would sit between the planned Tohoqua high school and the Heritage at Crossprairie urban center, creating a strategic corridor for innovation and job creation.

In April, Osceola County leaders, federal partners, and industry trailblazers gathered at NeoCity in Kissimmee for the ribbon cutting of the U.S. National Science Foundation’s Florida Semiconductor Engine. During the event, CEO Tawny Olore unveiled the Engine’s new identity and website, SemiconductorEngine.org.

The Florida Semiconductor Engine, one of only 10 programs nationwide selected by the NSF’s Regional Innovation Engines initiative, received up to $15 million in initial funding and could secure up to $160 million over the next decade to drive growth in the semiconductor advanced and specialty packaging industry.

NeoCity’s cutting-edge facilities and innovation ecosystem already include partners such as SkyWater Technology, imec USA, BRIDG, University of Florida’s Semiconductor Institute, Plug and Play, Seoul National University, and TEL. This expanding network has also fueled education and workforce development. NeoCity Academy, ranked the No. 1 public high school in Central Florida and recognized as a U.S. Department of Education Blue Ribbon School, offers students real-world internships with companies operating within NeoCity.

Expanding Technology Investment

At the original NeoCity campus, plans are advancing for a $225 million performing arts center anchoring a smart city development. South Korea-based ELSPES is negotiating to establish its global headquarters and U.S. manufacturing facility nearby, representing a $370 million investment. Phase one includes a 75,000-square-foot facility projected to create 100 jobs by 2026 and 200 more by 2028, with average salaries of $85,000. A second phase would add $200 million in manufacturing equipment and 300 additional jobs by 2034.

Additional Economic Initiatives

According to GrowthSpotter, Osceola County is also activating a separate 61-acre site in St. Cloud, purchased for $15 million, through negotiations with JCQ Services to establish a job-creating industry. Portions of the property may serve stormwater retention needs for the Florida Turnpike widening project, which will expand the roadway to four lanes and introduce a diverging diamond interchange at W. Nolte Road.

With NeoCity South, the Florida Semiconductor Engine, and expanding public-private partnerships, Osceola County is looking to solidify its role as a hub for advanced manufacturing, semiconductor innovation, and high-paying technology careers.

Source: GrowthSpotter, Osceola County, Osceola County Property Appraiser