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Cecil Spaceport will lose money for its first four years, but its management team anticipates generating a small profit in year five.
Funded mainly by grants, the space port — the only horizontal site on the East Coast — is trying to capture 40 percent of the state's market, the management team said in strategy documents the Business Journal obtained Monday.
The “Strategic Business Plan Executive Summary” outlines the group's plan to accomplish something other cities are also struggling to create: a viable and profitable private spaceport. The report was released to the Business Journal in response to a records request.
“We won't be profitable in the short term,” Rusty Chandler said to the Business Journal. “This is for those who come after us.”
For the first five years, operating revenue is projected to grow from $58,783 in the first year to $597,833 in the fifth year of the program. But total operating expenses — while relatively small — will exceed operating revenue up until the fifth year: In year one, total expenses will be $186,876 and will increase to $592,912 in year five, when there is an expected profit of just $5,000.
Total cash flow is expected to be in the red for the first five years, with a loss of $127,092 in year one that grows to negative $2,120,079 in year five.
Still, JAA plans to use as little of its own cash as possible, planning to leverage grants as much as possible.
Cecil is the only horizontal spaceport on the East Coast, but is one of 11 spaceports looking to serve about three viable operators. What is more, there is growing competition from nearby Cape Canaveral to get horizontal launch approval, as well as Houston Spaceport, Midland International Air and Space Port, Spaceport America and Mojave Air & Space Port, which all have their own advantages. For example, Midland has a committed tenant in XCOR Aerospace, one of the leading operators, while Spaceport America — while struggling because of an October 2014 accident — has the benefit of being partnered with Virgin Galactic and SpaceX.
Quelle: JACKSONVILLE BUSINESS JOURNAL
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