“It’s typically a big deal if a firm adds 100 or 200 jobs to the local economy. Something of this magnitude could end up bringing a billion dollars to the county,” said Mike Slotkin, an economics professor at the Florida Institute of Technology.
Slotkin said that when large technology firms move to a region, they bring an enormous talent pool, and that this influx of skilled workers can spur further business development, because companies within the same industry tend to cluster together.
That’s what happened in California’s Silicon Valley and North Carolina’s Research Triangle, and Slotkin believes it could happen here if the Project Magellan deal pans out.
“There’s always a big difference between talk and action when it comes to development, so let’s keep our fingers crossed that it happens,” Slotkin said.