Central Moloney, Inc. (CMI), a manufacturer of distribution transformers and transformer components headquartered in Pine Bluff, Ark., has selected two locations for new manufacturing facilities within Northwest Florida as they focus on their long-term growth. At full capacity, the two Northwest Florida locations are expected to employ 550 individuals with a capital investment of $75 million.
In January 2022, CMI made its first commitment to the region by announcing the establishment of a manufacturing facility in Panama City, Fla. (Bay County) at VentureCrossing Enterprise Centre. CMI is producing single-phase pole-mounted transformers at this location in an existing 140,000 sq. ft. advanced manufacturing facility. The company is hiring its new Florida employees with plans to create at least 200 jobs once at full capacity and invest at least $25 million in the facility.
In July 2023, CMI announced its plans to build a second manufacturing facility, a state-of-the-art 302,000 sq. ft. building in Crestview, Fla. (Okaloosa County) on a 48-acre parcel at the Shoal River Ranch Gigasite. CMI will be the first tenant of the 10,500-acre industrial property. At this facility, CMI will specialize in producing pad-mounted transformers. The cost of constructing and equipping the new advanced manufacturing facility is projected to be $50 million, and 350 jobs are expected to be created as the company scales up to full production.
“Establishing two facilities within the thriving region of Northwest Florida offers numerous advantages,” said Jennifer Conoley, President & CEO of Florida’s Great Northwest. “Through both manufacturing locations, a total of 830 direct, indirect, and induced jobs are projected to be created, equaling over $46.7 million in new salaries because of the ripple effect of this high-impact industry. We are thrilled to have found a corporate partner like Central Moloney, Inc. that is committed to long-term growth in Northwest Florida.”
“We will, once again, be moving toward our commitment to become the world's premier manufacturer of electrical distribution transformers,” said Chris Hart, President & CEO of CMI. “We looked at some other sites and some other locations, but quite frankly, the opportunities and incentives in Northwest Florida made it a can’t-miss. Northwest Florida is the future for us.”
The transformer industry has a backlog of demand because of aging infrastructure and growth demands. Customers are in high demand for these products, which exceeds the production capability of CMI’s current manufacturing footprint as well as that of its competitors.
Florida’s Great Northwest was the lead facilitator in introducing CMI’s leadership team all the opportunities for business success throughout Northwest Florida. Through FGNW’s strong partnership and collaboration with the county partners of the Bay Economic Development Alliance and One Okaloosa Economic Development Council, these two organizations, alongside countless partners, brought these projects to completion.
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