Northwest Florida Attracts FDI Investments, 335 New Jobs Expected
Source: Business Facilities
Northwest Florida Attracts FDI Investments, 335 New Jobs Expected
Canada-based Voltari Electric is investing $37.5 million in Bay County, and UK-based Field International Group is investing $8 million in Escambia County.
Two international companies have chosen the northwest Florida region for their U.S. headquarters locations — a Canada-based EV shipbuilder and a Britain-based engineering and manufacturing company serving the aerospace industry.
In Bay County, Voltari Electric Inc. plans to develop and expand its production capacity by acquiring and transforming the Queen Craft Shipyard, which has been operating since 1974. The site is an existing 11-acre shipyard with direct access to St. Andrews Bay.
The company’s decision to headquarter its U.S. operations was executed through an economic development project known as “Project Kilowatt.” The Canadian company is a vertically integrated shipbuilder specializing in the design, development, and manufacturing of advanced electric propulsion systems with marine-grade high-kW battery manufacturing, carbon fiber hulls, software, and autonomous/unmanned technologies (USV) for the defense, government fleet, commercial, and leisure industries.
“The launch of Voltari’s U.S. Shipyard represents a major milestone in our company’s strategic plan,” said Cam Heaps, Voltari’s Chief Executive Officer. “Bay County and Northwest Florida offer the ideal combination of deepwater marine access, workforce talent, and community partnership for our U.S. operations.”
Voltari will invest $37.5 million into the project, with plans to create 285 new jobs. The shipyard will be used for Voltari’s U.S.-based customers enabling compliance with regulatory requirements such as the Jones Act. The project will include building upgrades, new construction, manufacturing equipment, research and development equipment, and other specialized assets including a machine-learning AI lab that will advance their USV product development to meet surging demand in defense, USV, and commercial marine markets in the United States.
According to a community economic impact study conducted by Florida Power & Light, the project is expected to generate 712 direct and indirect jobs, create more than $43 million in annual wages, and produce over $72 million in additional community capital.
“This is exactly the type of transformational project Bay County has been working to attract,” said Bay County Commissioner Doug Moore. “Voltari’s investment strengthens our economy, creates hundreds of jobs, and reinforces Bay County’s role as a leader in advanced manufacturing and marine innovation.”
Working in coordination with the Bay County Commission, Triumph Gulf Coast funds will be used to help acquire the proposed 11.55-acre site, including four existing marine facilities.
“Voltari’s decision to locate in Bay County validates our long-term economic development strategy,” said Jay Moody, Chairman of the Bay Economic Development Alliance. “This project brings global attention, strong wages, and cutting-edge technology to our community, positioning Bay County for sustained growth.”
