Shoal River Ranch lands first client as new manufacturing plant comes to Okaloosa County
NICEVILLE — After a journey that started in 2016 to bring new industry to Okaloosa County, One Okaloosa Economic Development Council on Thursday announced the addition of the first major manufacturer coming to the Shoal River Ranch Business Park in Crestview.
Here's what we know.
Who is coming to Okaloosa County?
Central Moloney Inc., an electrical transformer manufacturer with roots in Arkansas, announced that it would build a 302,000-square-foot facility taking up 48 acres of the 10,500-acre Shoal River Ranch Gigasite located on the southwest corner of U.S. 98 and Jericho Road in Crestview.
CMI and the Okaloosa County Commission agreed to a three-year purchase option for 10 additional acres should CMI need to expand in the future.
The cost of constructing and outfitting the new manufacturing site will be about $50 million, and it's expected to bring 350 high-paying jobs to Okaloosa County. The county also expects an additional 118 indirect and induced jobs that will come as the construction project continues.
What are officials saying?
"This is a tremendous day for us and a tremendous day for our community," said Nathan Sparks, the executive director of One Okaloosa EDC.
"Who we are is family," CMI President and CEO Chris Hart said. "We are going to be passionate about what we do. Passionate about what we bring to this community. We are going to bring benefits, big payrolls, and we are going to bring empowered people. Central Moloney's mantra is that we bring power to the people."
"Advanced manufacturing was at the top of our list of desired industry targets," County Commission Chairman Trey Goodwin said in a prepared statement. "We couldn't be happier with Central Moloney's decision to construct their new transformer manufacturing facility at Shoal River Ranch and become the property's first tenant."
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"The decision to build a new facility in Okaloosa County will have an enormous impact on other job seekers, suppliers, and community partners," Jennifer Conoley, president and CEO of Florida's Great Northwest, said in a prepared statement. "We are thrilled to have found a corporate partner like CMI that is committed to long-term growth in Northwest Florida."
When will the center open?
CMI expects to host a ceremonial groundbreaking at Shoal River Ranch sometime in late 2023 or early 2024. The timeline from initial facility design to opening its doors for operation could take anywhere from 24 to 36 months.
This article originally appeared on Northwest Florida Daily News: Manufacturer promises to bring 350 jobs with high wages to Crestview
