The more than $5 million investment in the works is from laser technology product company Erchonia.
The company's plans include building a 20,000 square foot building and hiring 35 people, who will earn an average salary of $62,000 a year.
The Melbourne City Council and Brevard County are granting the company tax exemptions as part of the incentive to move here.
Erchonia considered several sites in Florida before choosing the Space Coast and its central location to other Florida cities.
The new facility is slated to open in July 2016.