Osceola County is making a move toward technological innovation. The Board of County Commissioners approved a Memorandum of Understanding (MOU) for Empyrean Medical Systems, Inc. to establish a base at NeoCity potentially. This initiative is poised to transform the area into a high-tech research and manufacturing hub. According to the Osceola County report, the MOU indicates a planned facility spanning 50,000 to 100,000 square feet, slated for completion as early as 2028.
Viviana Janer, Chair of the Osceola County Commission, signified the partnership with Empyrean as a magnet for attracting innovative technological enterprises, which aligns with NeoCity's aspirations and speaks to the County's concentrated efforts in driving economic diversification and job creation with high-value positions. Empyrean, now in the spotlight for considering this strategic move, is known for its groundbreaking work in medical device technology, predominantly in cancer treatment. According to a statement detailed by Osceola County, Kal Fishman, President and CEO of Empyrean, emphasized the suitability of NeoCity's technological ecosystem for the company's innovation-forward agenda and expressed pride in the prospect of anchoring the company's most advanced facility within the bounds of Florida.
The initiative involves collaborative arrangements and Empyrean's presence. Concept Companies is the name behind the project's real estate development, and it is committed to delivering a purpose-built facility within the NeoCity premises. By 2033, Empyrean is anticipated to generate at least 60 high-skilled job positions with an impressive average annual salary of $80,000. Additionally, Magnetics Corporation, or MagCorp, is the connector between Empyrean, the County, and NeoCity's future.
The approval of the MOU marks the inception of a 120-day period during which Osceola County, Concept, and Empyrean are expected to hash out a comprehensive development agreement. This agreement is a signal of continued progress in Osceola County's strategic vision of nurturing a technology-rich economic environment that integrates partnerships with entities like SkyWater Technology, imec USA, among others, and capitalizes on funding secured from the Department of Defense and U.S. Economic Development Administration as well as supporting innovation through programs like the Central Florida Semiconductor Innovation Engine. Seth Lane, Executive Vice President of Real Estate for Concept Companies, underscored the transformative potential of working with Empyrean and the strong support from Osceola County and the NeoCity team.
