The proposed strategy for the EDO outlined the creation of a seven-member board to oversee economic development, with directors appointed by council members and additional nominations from the Chamber of Commerce. This strategy includes transitioning the EDO from a public to a public-private entity, and eventually to a private organization over the next 10 to 20 years. The plan emphasizes five key areas: business recruitment and marketing, workforce training, site readiness, small business support, and real estate redevelopment.

Council members debated the governance structure, with concerns raised regarding the potential for unqualified appointments. One member suggested a ranking system to ensure that those appointed to the board possess the necessary expertise to guide the EDO effectively. The importance of having experienced business leaders, rather than political appointees, was a recurring theme, emphasizing the need for a careful approach to the formation of the EDO.

Funding for the EDO was another topic of discussion. A proposal was made to establish a diversified funding strategy, including a one-time seed fund, annual appropriations from the city’s general fund, and the creation of tax increment financing districts to generate ongoing revenue. There was also mention of leveraging franchise fees from new developments as a potential source of funding. However, concerns were noted about existing funds tied to specific projects, which might limit the flexibility of the proposed financial strategy.

Public participants expressed varied opinions on the economic development plans. A former chair of the county Economic Development Council criticized the current council, claiming it favored more established areas like Melbourne over Titusville. He argued that incentives are important for attracting businesses and cited examples of thriving cities that have benefited from competitive economic development practices. Another speaker emphasized the long-term nature of economic development and stressed the need for prompt investment to avoid higher costs in the future.

A resident expressed the desire for Titusville to focus on attracting space-oriented businesses, given its proximity to the space center, while cautioning against industries that could harm the local environment. This sentiment was echoed by a council member, who warned against relying too heavily on a single industry like space due to historical economic downturns following major events in the space program.