Foreign Trade Zone #249 provides significant financial savings for businesses

FloridaWest can bring the advantages of Foreign Trade Zone (FTZ) directly to your company to lower importing costs, enhance inventory control and improve supply chain pace and flexibility.


  • Defer, reduce or eliminate duties
  • Reduce the number of normal customs entries
  • Eliminate duty on goods processed in and exported from the zone
  • Reduce or eliminate duty on capital equipment used in production
  • Avoid quota restrictions on merchandise admitted and held within zones
  • Allow imported materials and parts to be delivered directly to the zone site
  • Reduces federal excise taxes and some state inventory taxes when applicable
  • Allow duty-free transfer of goods among multiple zones
Find out more about FTZ #249

What is a Foreign Trade Zone?


Foreign-Trade Zones are secure areas under supervision of U.S. Customs and Border Protection that are considered outside the customs territory of the U.S. for the purposes of duty payment.

The Aerospace Industry in Northwest Florida is Thriving

From The Aerospace Alliance


Northwest Florida is a vibrant region with diverse industry sectors and a population of more than 1.1 million residents.


The region has six aviation-focused military bases that employ more than 56,000 individuals. These bases specialize in aviation activities such as unmanned aerial systems, weapons testing, pilot training, and aerospace systems research and development.


The military presence in the area has led to the development of an aerospace and defense cluster, comprising nearly 132 companies. The cluster includes aerospace parts manufacturers, aviation maintenance and repair firms, as well as research institutions that transfer military aerospace technology to the private sector.


Leading aviation companies such as ST Engineering and Premier Aviation have started to develop new facilities in Northwest Florida, attracted by the region’s outstanding aviation workforce, welcoming business climate, exceptional quality of life, and unprecedented financial resources.
Read the full article here
More about the Aerospace Alliance here

FloridaWest welcomes new board members


"Built to Grow," FloridaWest's economic development recently launched fundraising campaign, has seen early success in attracting new investors to the table. Please help us welcome our newest investors:


McMahon & Hadder - Donnie McMahon

Stirling Properties - Justin Beck

Morette Company - Mike Morette

ARCO Design/Build - Mark Roy

SouthState Bank - Charlie Sherrill

Moore, Hill Westmoreland - Charles Beall

Pegasus - Dave Taylor
Click here to see the full Built to Grow brochure

FloridaWest September Business Development Update
 
 

The September Business Development update is now available.

Here are some highlights:


Active Projects 31

Active Project Site Visits 14

Existing Industry Visits 41

Response Proposals 10


Announcements


Paradigm Parachute & Defense

  • 76 New Jobs, 74 Retained Jobs
  • $53,532 Average Wage
  • $7.1M Capital Investment
  • Received second IRDF Grant, doubled jobs & growth of manufacturing operations in 64,053 SF


LIFT

  • 36 New Jobs, $113,000 Average Wage
  • $21M Capital Investment
  • $32 M New Federal and Industry R&D
  • Triumph Gulf Coast Grant providing up to $6M
Click here to read the entire update

Coach Glenn joins CO:LAB

Please help us welcome Coach Glenn to CO:LAB


Coach Glenn helps business owners get clarity on what they need to do, provides the accountability to get it done and when they hit a roadblock, empowers them with the resources to get through it. He’s been called a “serial connector” for the connections he’s able to make with his clients and people who have the resources they need to be successful.


In addition, Coach Glenn helps take companies to the Next Level. One of those companies, The Center for Independent Living (CIL), helps people with disabilities find the resources they need to become independent. As part of his Next Level program, he’s going to help them double the number of people they are able to assist.


“They call me a serial connector but accountability is the pixie dust. This community is perfectly designed for entrepreneurs. And as a small business, everything you need is here to get started, from equipment and meeting rooms to mentors like Patrick Rooney. He’s a great coach’s coach.”


- Coach Glenn
More about Coach Glenn

A note from FloridaWest


Hello FloridaWest Stakeholders & Investors,


As we move into the fall of 2024 your FloridaWest staff continues to pursue new jobs and investment for Escambia County. Our pipeline of active projects, both new locations and expansions, continues to exceed 31 projects. These projects are considering locations across Escambia County. We are committed to actively engaging and working with these companies and hope to have several announcements to share with you before we close out 2024.


As we begin September, I am happy to share with you that we are making good progress in our capital campaign, Built to Grow. This campaign is a five-year effort at aligning new private investment with our strategic plan. This strategic plan focuses on adding new resources to better serve our existing industry stakeholders. Our existing business account for 80 percent of all new job creation in Escambia County. As of August 2024, we at 40 percent of our campaign goal and we are waiting on new commitments from several new investors. I am confident that we will achieve our overall goal in the near future.


In closing, thank you for your support and your engagement. We truly need all of partners and stakeholders to actively participate in growing our economy in Escambia County. I am honored to serve as your interim CEO.


Sincerely,

Rick Byars

Interim CEO

FloridaWest Economic Development Alliance
 
 

EVENTS

2024 Manufacturing & Skilled Trades Career Fair

Careersource ESCAROSA is hosting a Manufacturing and Skilled Trades career fair on October 2, 2024 from 10 a.m. to 2 p.m. Location: at Gateway Church - 445 Creighton Rd., Pensacola, FL. Click here to register.



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. 


Tacos sponsored by FPL. 🌮



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 | floridawesteda.com
 

FloridaWest EDA | 3 West Garden Street #618 | Pensacola, FL 32502 US

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