PANAMA CITY, Fla. (WJHG/WECP) – Triumph Gulf Coast has approved two new grant agreements for Bay County and Franklin County.
Bay County received a grant of up to $25 million, while Franklin County received a grant of up to $750,000.
Bay County
Triumph’s board of directors voted to award a $25 million grant to Northwest Florida Beaches International Airport to implement Project Spinner, an MRO facility for commercial aircraft engine repair. This project will support Northwest Florida’s growing aircraft maintenance, repair and overhaul sector.
The company will also build a second building at the airport to house a jet engine test center and is in the process of acquiring a third facility in Lynn Haven to operate a distribution and parts testing facility.
The Spinner project will create at least 500 well-paid jobs in the three plants. This project, with its major employment impact, is likely to usher in a period of change for Bay and the surrounding districts.
The private sector partner is working with Space Florida to obtain financing for the project. Triumph’s funds will be used to cover construction costs of the MRO facility. Space Florida will build and own the facility and lease it and associated equipment to the company on a long-term basis. The improvements will become the property of the airport authority upon termination of the lease.
According to Gulf Coast Triumph, these jobs will generate approximately $479 million (discounted to present value) in additional revenue over a ten-year period that will remain in the region.
Franklin County
The $750,000 Triumph Board grant awarded to Franklin County will be used for a new communications system for first responders.
This first responder communications system will be available to the Franklin County EMS and Fire Department, Franklin County Sheriff’s Office, Franklin County Highway Department, Franklin County School District, Weems Hospital, Carrabelle Police Department and the City of Apalachicola Police Department.
The requested funds will be used for the first phase of a two-phase project. Phase 1 includes the procurement and hiring of a communications consultant for up to $775,000. The purchase and installation of the system and training of staff will occur in the second phase of this project.
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