FL: Edge Aerodynamix to Invest $77.92M to Locate 120 Jobs in Panama City
23 Oct, 2014
Governor Rick Scott announced that Edge Aerodynamix, Inc. will locate its operations near the Northwest Florida Beaches International Airport (ECP) in Bay County. The project will create a $77.92 million in capital investment, including land, and 120 manufacturing, research and development, and marketing jobs.
Governor Scott said, “Edge Aerodynamix’s creation of 120 jobs in Panama City is great news for Florida families. These jobs will help more Florida families live the American Dream. Since December 2010, we’ve created 651,300 private-sector jobs, and we will continue creating more opportunities so that every Floridian who wants a jobs can get one.”
Edge Aerodynamix, Inc. is a pioneer in the aviation industry, and has developed a product that will generate significant fuel savings for all types of aircraft. The company plans to continue research and development (R&D) on additional products aimed at reducing drag and increasing fuel efficiency. The company has chosen to locate the manufacturing of these products, in addition to its R&D and marketing operations, in Bay County after a competitive site search that included domestic and international sites.
“Edge Aerodynamix is very excited about locating in Bay County, Florida. This area gives our company plenty of room for future growth, an aviation-centric workforce and offers a business friendly environment for our operations,” said Zana Ireland, President of Edge Aerodynamix, Inc. “We are thankful that local leaders have placed their trust in us and have partnered with us to make this dream a reality.”
As the project expands from phase-one, it will bring a significant capital investment and construction of multiple new facilities near the airport. ECP was strategically planned to act as a tremendous driver for economic development, with aerospace sites offering runway access, as well as surrounding acres for development to accommodate companies such as Edge Aerodynamix, Inc.
Florida is already home to more than 2,000 aerospace and aviation companies employing more than 82,000 workers across the state. The industry has an annual payroll impact of over $5 billion in the state. Florida has long been known as a premier state for aviation and aerospace and Edge Aerodynamix, Inc. contributes to that portfolio of excellence. Additionally, Florida’s manufacturing sector ranks among the top 10 nationwide with more than 18,200 companies employing some 317,000 people statewide.
President and CEO of Enterprise Florida, Gray Swoope said, “Northwest Florida has grown to be one of the top regions for aviation and aerospace companies to expand and establish operations. Edge Aerodynamix’s operations in Panama City will add value to Florida’s extensive aviation and aerospace and manufacturing sectors. I’m excited for Edge Aerodynamix’s establishment in Florida and look forward to seeing the company’s growth in the Sunshine State.”
This project was made possible through strong partnerships between Enterprise Florida, the Florida Department of Economic Opportunity, the Bay County Board of County Commissioners, Bay EDA and Northwest Florida Beaches International Airport.
“The 120 new jobs that will be created over the next three years by Edge Aerodynamix is great news for Panama City families,” said Jesse Panuccio, Executive Director of the Florida Department of Economic Opportunity. “Through pro-growth policies and initiatives, this administration is focused on recruiting industry sectors—such as aerospace and aviation—that bring high-skill, high-wage jobs to our economy.”
“Today’s announcement is great news for our local economy and the hardworking people of Bay County,” said Rep. Steve Southerland. “In addition to creating 120 high-paying jobs, Edge Aerodynamix’s location to our region brings a big economic boost and investment into the development of Northwest Florida Beaches International Airport.”
“We welcome Edge Aerodynamix to Bay County and are tremendously excited about the company’s fresh, innovative ideas and commitment to job growth. This is a wonderful opportunity for both this new and exciting company and Bay County’s economy. We hope for their continued success and expansion and that they will prove to be a magnet for other aeronautical industry players to our area,” Bay County Commission Chairman Guy Tunnell said.
“We are proud that the airport was able to help provide a competitive advantage that gave Panama City the edge over other communities under consideration,” said Till Bruett, Chairman of the Board of Northwest Florida Beaches International Airport. “Attracting innovative companies to locate at the airport, not only helps create jobs, but also helps the airport grow. Growth at the airport means additional business opportunities and in turn improving the airport’s ability to encourage more air service to our market.”
“We are excited that Edge Aerodynamix Inc. has chosen Bay County as its home for the R&D, marketing and manufacturing of their innovative product. The 120 new, high wage jobs that they will create will have a profound impact on our local economy, and we hope that this company will be the catalyst for economic development at ECP,” said John Ed McDanal, Chairman of the Bay EDA and District Manager for Gulf Power Company.
Edge Aerodynamix, Inc. is a full time professional company dedicated to bringing superior engineering, quality and affordability to aircraft owners and operators everywhere. It’s an international technology company that specializes in erosion protection and paint protection products for aircraft that do not reduce performance.
Enterprise Florida, Inc. (EFI) is a partnership between Florida’s businesses and government leaders and is the principal economic development organization for the state of Florida. EFI facilitates job growth for Florida businesses through recruitment and retention, international trade and exporting, promotion of sporting events, and capital funding programs to assist small and minority businesses.