FloridaWest NEWS

KING AERO BUILDS DEMO JET ENGINE FOR GEORGE STONE STUDENTS

King Aero Management, Pensacola supplier and repairer of aircraft turboprop engine parts, has a unique connection to the George Stone Technical College. The two have been working together for several years to help build the future of aviation mechanic jobs in the area. The relationship culminated recently as King Aero delivered a specially designed demo aircraft turboprop engine with cutaways so students can see firsthand how these engines operate.

“FloridaWest has been our partner for many years, connecting us with industry partners and helping us grow.”

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MORE LOCAL ECONOMIC DEVELOPMENT NEWS

Photo courtesy of American Magic

FOILING WEEK IN PENSACOLA

Foiling Week, an international festival celebrating hydrofoiling watercraft, made its U.S. debut in Pensacola, Florida, from February 24 to March 2, 2025. Traditionally held in Lake Garda, Italy, this event brought together sailors, designers, and enthusiasts to showcase cutting-edge foiling technology.

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Photo courtesy of CO:LAB

KEY TUTORING GROWING YOUNG MINDS AND STAFF

One in five of children have dyslexia, the number one learning disability in the nation. One CO:LAB company is making strides giving to give those kids a chance. Key Tutoring, an emerging educational service in Pensacola, is experiencing significant growth at CO:LAB, the business incubator that supports startups and entrepreneurs in Northwest Florida.

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CO:LAB FEATURED IN 850 MAGAZINE

CO:LAB, Northwest Florida’s premier business incubator, is making waves in the April edition of 850 Magazine. The feature highlights CO:LAB’s role in fostering innovation and entrepreneurship, providing startups and growing businesses with the resources, mentorship, and collaborative environment they need to thrive.

Read the story here

MARCH 2025 BUSINESS DEVELOPMENT UPDATE

Highlights

Active Projects 29
Active Project Site Visits 6
Existing Industry Visits 26
Response Proposals 6

2024-2029 Built to Grow 5-year jobs goal: 3,000

Built to Grow Projects

288 Direct Manufacturing Jobs
$35.8 M Capital Investment,
$60,883 Avg. Annual Wage
$17,534,304 New Annual Payroll

Results in an additional 61 Indirect Jobs and 145 Induced Jobs, which yields a total of $147,573,696 in annual sales/output and

$25,560,400 in annual compensation.

Full report

A balanced tax base is essential for fiscal stability

Balanced growth is crucial for the fiscal health of any community, especially when evaluating the cost of services associated with various land uses. While residential developments expand the property tax base and contribute to the community’s vibrancy, they also demand more in public services than they generate in revenue. Conversely, retail, commercial, and industrial properties typically create a fiscal surplus, providing more in taxes than they consume in services. This disparity highlights the need for strategic economic development efforts, ensuring that counties foster sufficient commercial and manufacturing growth to sustain long-term financial stability and offset the service burdens associated with residential expansion. (cont'd)

Read the full article here

Chris Platé

Chief Executive Officer

FloridaWest Economic Development Alliance

EVENTS

FTZ #249 Live Webinar March 27

Join us for a live webinar titled: Navigating Rising Tariffs: How FTZ #249 Can Help Your Bottom Line.

Thursday, March 27, 2025 at 10 a.m. Register here

Taco Thursday at CO:LAB Pensacola

CO:LAB hosts Taco Thursday🌮 for its Resident Entrepreneurs the last Thursday of every month!

Taco Thursday is all about enjoying scrumptious tacos, learning, sharing best practices and encouraging each other.

Guests are welcome, just email us for reservations as seating is limited.

1 Million Cups at CO:LAB Pensacola

1 Million Cups ☕ is your monthly opportunity to get together with other entrepreneurs and talk shop.

You'll hear local entrepreneurs introduce their businesses and discuss your own small business with other like-minded entrepreneurs and innovators over coffee and conversation.

We'll have the coffee ready, you bring the ideas!

The first Wednesday of every month, 9:00 a.m. at CO:LAB.

Story ideas?

If you have an idea for an article or would like to have an event included in this newsletter, please email us!

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FloridaWest EDA • 3 West Garden Street #618 • 850-898-2201

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