KISSIMMEE, FL – Osceola County Board of County Commissioners has approved a development agreement with ELSPES, Inc. for a $470 million semiconductor investment at NeoCity.
The South Korea-based company plans to establish its U.S. manufacturing operations and headquarters on nearly 40 acres, creating more than 600 high-wage jobs. The site will represent the largest private footprint in the NeoCity technology district to date and allows for future expansion.
The project marks ELSPES’ entry into the U.S. market and adds a manufacturer specializing in high-performance silicon capacitor technology. These components are used in applications including artificial intelligence, automotive systems, and aerospace technologies.
The development agreement positions the company within a growing semiconductor ecosystem in Central Florida, with proximity to key U.S. customers intended to support innovation and market expansion. County officials state the project is expected to contribute to workforce development and support the region’s advanced manufacturing sector.
Construction will occur in two phases, with each phase adding nearly 289,000 square feet of manufacturing and research space.
The agreement also includes performance-based incentives tied to job creation and long-term investment.
SOURCE: OSCEOLA COUNTY GOVERNMENT
