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Three Brevard County, Florida Businesses Vie For $28.6M in Stimulus Funds

Three Florida companies based in Brevard County are seeking stimulus funds to expand their businesses and create a total of 1,000 new jobs in the area, the Orlando Business Journal reports. Lighting Science Group Corp. in Satellite Beach, Embraer Aircraft Holding Inc. in Fort Lauderdale, and Legacy Southeast Investments LLC in Melbourne are all vying for the funds.

If the companies' request passes county commissioners, they could receive a total of $28.6 million in interest-free, federal money. That will fund a total of $98.3 million of business expansion and construction projects across the three companies designed to bring jobs to the area. To receive the funds, the companies must prove they can finance those projects.

The American Recovery and Reinvestment Act allows state and local governments to issue recovery zone bonds through the end of 2010 to encourage economic growth in areas hit hardest by the recession.

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