The City of Pensacola has been awarded an additional $3.9 million from Gov. Ron DeSantis’ Florida Job Growth Grant Fund for a warehouse renovation and expansion at the Port of Pensacola that will allow American Magic to permanently relocate their headquarters to Pensacola.
The funding is in addition to the $8.5 million approved by Triumph Gulf Coast on Thursday, May 11 for the project, which will include significant renovations to Warehouse 10 at the Port of Pensacola.
“Today’s award to the City of Pensacola will strengthen the Port of Pensacola’s infrastructure and promote economic opportunities in the sailing industry for the Florida Panhandle,” Gov. Ron DeSantis said in a news release. “We believe in making strategic investments that will create job opportunities and ensure Florida’s prosperity for generations to come.”
The additional $3.9 million will allow the City of Pensacola to move forward with the project design.
“Today is the start of something really special for our city,” Mayor D.C. Reeves said. “We appreciate Gov. DeSantis and the DEO for recognizing the type of impact American Magic could have on our community, seeing its immense benefit to the state of Florida and for supporting our effort to make Pensacola, Florida the sailing capital of the United States of America.”
The project will include design, renovation and completion of the partially completed Warehouse 10 at the Port of Pensacola. Renovations will include a 50-foot addition, along with design and construction of a dock and boat ramp.
The permanent relocation of American Magic will create 170 jobs in the advanced manufacturing, engineering and design, and high-tech research and development sectors.
American Magic has used the Port of Pensacola on a temporary, seasonal basis since 2018, most recently training on Pensacola Bay in preparation for the 37th America’s Cup in Barcelona.
Design and construction of this project is anticipated to take 24 months. Job creation is expected to begin immediately, with a total ramp-up period of 24 months from construction completion.
This project aligns with the publicly approved Portside Vision Plan, and it firmly establishes the Port of Pensacola and the state of Florida as the premier location for cutting-edge watercraft and boatbuilding innovation on a global scale.
For more information about the Port of Pensacola, visit portofpensacola.com.
To learn more about American Magic, visit americanmagic.com.