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Florida State University Announces $98.4 Million in Triumph Gulf Coast Funding for an Aerospace and Advanced Manufacturing Facility in Bay County, Florida
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Florida State University (FSU) Announces $98.4 Million Triumph Gulf Coast Funding for Aerospace and Advanced Manufacturing Facility in Bay County, Florida
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The $98.4 million Triumph Gulf Coast funding, combined with FSU's $65 million investment and commitment to securing over $230 million in contract and grant activity, will lead to the construction of an aerospace and advanced manufacturing facility in Bay County, Florida. The facility will accommodate both secure and open contract and grant work for the aerospace and defense industries, marking a significant initiative that will transform research and development activities in Northwest Florida.
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PANAMA CITY BEACH, Fla.--(BUSINESS WIRE)--
Florida State University (“FSU”) announces $98.4 million in Triumph Gulf Coast funding for an aerospace and advanced manufacturing facility in Bay County, Florida within or near the Northwest Florida Beaches International Airport and the adjacent VentureCrossings Enterprise Centre. The facilities constructed as part of the project will be designed to accommodate both secure and open contract and grant work for the aerospace and defense industries. Triumph Gulf Coast will provide $98.4 million, and the university will invest another $65 million and commit to securing more than $230 million in contract and grant activity. “This is a monumental initiative that will transform research and development activities in Northwest Florida,” said FSU Vice President for Research Stacey Patterson. “This area is experiencing incredible growth, and there are tremendous opportunities for collaboration in manufacturing, aerospace and defense. We are excited to get started on this initiative and to work with all our partners in Northwest Florida to ensure its enduring impact.”
The St. Joe Company is a real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures. St. Joe has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about the Company can be found on its website at www.joe.com. On a regular basis, the Company releases a video showing progress on projects in development or under construction. See https://www.joe.com/video-gallery for more information.
St. Joe Investor Relations Contact:
Marek Bakun
Chief Financial Officer
1-866-417-7132
marek.bakun@joe.com
St. Joe Media Relations Contact:
David Demarest
Director of PR & Communications
1-850-213-5137
david.demarest@stjoe.com
Source: The St. Joe Company
FAQ
What is the funding amount announced by FSU for the aerospace and advanced manufacturing facility in Bay County, Florida?
FSU has announced $98.4 million in Triumph Gulf Coast funding for the facility.
Where will the facility be located?
The facility will be located in or near the Northwest Florida Beaches International Airport and the adjacent VentureCrossings Enterprise Centre in Bay County, Florida.
What industries will the facility cater to?
The facility will cater to the aerospace and defense industries, accommodating both secure and open contract and grant work.
How much will FSU invest in the project?
FSU will invest an additional $65 million in the project.
What is the total amount of contract and grant activity FSU is committed to securing?
FSU is committed to securing over $230 million in contract and grant activity for the project.
the st. joe company is a florida-based real estate developer and manager. the company owns land concentrated primarily in northwest florida and has significant residential and commercial land-use entitlements in hand or in process. the company also owns various commercial, resort and club properties. our land and natural assets combined with our strategic vision for northwest florida are helping us create long-term value for our shareholders. we develop resort and residential communities for those who want to live, work and play near the region's beautiful white sand beaches. our commercial and industrial developments are helping bring jobs and economic growth to the region. in addition, the company manages timber operations on thousands of acres and offers certain rural acreage for sale. we believe that the future of florida is bright and the st. joe company will have a key role in northwest florida's growth for many years to come.
