Gov. Rick Scott and other elected officials fueled enthusiasm for a new private venture expected to return 550 aerospace jobs to Cape Canaveral and maintain Florida as a vital part of the nation’s space program.

NASA announced a public-private partnership Monday with Space Florida, the state’s aerospace economic development agency, to lease the Kennedy Space Center's Orbiter Processing Facility-3 -- the space shuttle's main engine-processing facility -- to Seattle-based Boeing Co.

Boeing intends to use the vacated shuttle hangar space to develop the capsule for a reusable manned space taxi, called the Crew Space Transportation spacecraft that will transport up to seven people or a combination of people and cargo to the International Space Station and other destinations in low-Earth orbit.

Scott said Boeing’s decision showcases that Florida has “the world-class facilities and work force expertise needed for aerospace companies to succeed.”

"This space transportation system that is being developed by private companies like Boeing will rocket us back to the forefront of the space industry and help reignite job growth,” Scott said.

Boeing is expected to have 140 jobs at the Cape by the end of the year.

Terms of the lease were not immediately available.

Lt. Gov. Jennifer Carroll said the lease agreement will serve as a template for other agreements at the Cape.

“What we are looking at is making sure we are putting things in place for the 21st century, that we’re not just sitting around just waiting for someone to tell us how Florida should be crafting its space exploration.”

U.S. Rep. Bill Posey, R-Rockledge, said the Boeing effort won't replace the shuttle, but it confirms that Kennedy Space Center will remain involved in human space exploration.

“Our Space Coast community has been through a lot,” said Posey. “Over the past few years it’s been tough. The retirement of the shuttle hurt. It served us well for 30 years, but it wasn’t the end of the program.”

The spacecraft has been designed to be compatible with a variety of expendable rockets and is scheduled to use a United Launch Alliance’s Atlas V launch vehicle for its first test flight in 2015.

This is good news for those on the Space Coast, which has seen NASA shed 4,000 jobs since 2009 as the space shuttle program has been retired.

The announcement is also seen as a positive step for the United States which has paid Russia $753 million for 12 round-trip tickets to the International Space Station on Soyuz rockets.

U.S. Rep. Sandy Adams, R-Orlando, said it’s imperative the United States remains committed to manned space flight as countries like China and India expand their space programs and that concerns have mounted over Russia’s program, highlighted by the crash of a Soyuz in the Altai Mountains of Siberia two months ago.

“The recent failure of a Russian cargo mission highlights the problems associated with relying on foreign countries for access to the ISS,” Adams said. “Even though scientists have pinpointed the error that caused the Russian mission to crash, and the Soyuz has once again been qualified for flight, the failure still raises serious questions about consistent American access to a vital taxpayer investment.”

NASA has a $19 million budget.

The White House requested $850 million for the commercial crew program, which the House reduced to $312 million and the Senate pushed to $500 million, said U.S. Sen. Bill Nelson, D-Orlando.

“You know the financial environment we’re dealing with, it’s almost a minor miracle that NASA has not been cut more in its overall funding level,” said Nelson, who was a payload specialist on a shuttle mission. “Compared to other agencies, NASA has fared very well.”

The hangar space was used by NASA for shuttle orbiter testing, launch team training, computer system software and hardware development and maintenance operations.