ELSPES, Inc. is a South Korea-based company that makes high-performance silicon capacitors for AI systems, automotive technology, and aerospace platforms. It is committing $470 million to build its U.S. headquarters and manufacturing campus inside NeoCity, Osceola County’s 500-acre technology district in the Kissimmee/St. Cloud area.
Osceola County Commission Chairman Brandon Arrington called it “the largest economic development project in our history.”
The deal will bring 600+ high-wage jobs at an average annual salary of $85,000. ELSPES will occupy 32.56 pad-ready acres — the largest private footprint at NeoCity to date.
Two phases: Phase 1 is $270 million, begins construction January 2027, and brings roughly 300 jobs. Phase 2 is $200 million, estimated for 2035–2038, and brings another roughly 300 jobs. Each phase builds a 289,000-square-foot facility.
Timeline: an initial MOU was signed in December 2024; the development agreement was moving through Osceola County Commission approval as of May 2026.