The city of Brownsville is expanding their space economic ecosystem by partnering with another new company moving into the city.

The company 9.8 Capital is making its way to Brownsville. Founder J. Brant Arseneau says he’s designing an ecosystem of finance to help with the capital component of the space industry.

Arseneau says one of the reasons for putting a portion of their operation in Brownsville is to be near investors or clients.

“You have to be close to your clients, you have to be close to your capital. And I would like to be the first finance person to be in Brownsville when this becomes the Silicon Valley of space,” Areseneau said during a press conference Monday. 

Brownsville Mayor Trey Mendez says the city is one of the few cities in the U.S. that has launching capabilities.

“We’re obviously well positioned globally for launch, which is huge," Mendez said. "And if you create that atmosphere of business friendly environment and provide incentives, like we’re doing, we’re going to be able to attract that. But that’s not enough.” 

Mendez says the city will create partnerships with Texas Southmost College to get ready for jobs that will soon become available.

Arseneau will also create a scholarship program to try to get more more people who are economically disadvantaged into the industry.