An artist's rendering of what project Titan will look like, on the ground at the Pensacola Airport, in 2024. |
A few years back we celebrated the completion of project Stallion and we looked forward with eager anticipation to the funding and commencement of project Titan.
These names, Stallion and Titan, are the economic development code words for the quarter of a Billion Dollar build out of hangars and administrative facilities for the Pensacola Airport by ST Engineering Aerospace that bagan with the $46 Million project Stallion, completed in 2017-2018.
That event was amazing, and I was honored to speak at the grand opening of hangar 1 (4:10 of this video) along with Mayor Ashton Hayward, Governor Rick Scott, and dignitaries from ST Engineering--the world's leader in aircraft maintenance, repair, and overhaul.
Between then and now, a lot of hard work has been put in, lots of money has been raised, and this week--the $210 Million Dollar project Titan officially begins with a groundbreaking on Thursday.
a staggering $66Million for this local project came from Triumph Gulf Coast (BP) funds---the largest such award in the panhandle of Florida to date!
Once again I have been invited to speak at this ceremony on behalf of the county-which I am very happy to do. I know the value of economic development in general--and to our community specifically.
While some feel we should not expend ANY taxpayer funds to pursue ANY opportunities like this and other large employers such as Navy Federal Credit Union, Ascend Performance Materials and/or ST Engineering--I completely disagree. In fact, I believe to go after such opportunities is an essential function of good governance!
Fortunately for the majority of rational, intelligent citizens that understand basic tenets of economic theory and economic development-- the very small and insignificant voices of dissent on such opportunities by naysayer policymakers locally get quashed by the majority that are rational and understand such things. Narrow minds never win the prize--and to listen to them on this project would result in this, what will be one of the largest MRO campuses in the world, going somewhere else like Austin, Seattle, San Diego, or Pittsburgh. But because those voices of dissent were not, are not, and will never be given any creedence on important topics like this--Such an opportunity and the concomitant $210,000,000 is being spent here, in Pensacola. With this project, once completed, Escambia County, Pensacola, and our region will achieve the following: (projected from a HAAS center study conducted in 2017)
--1,325 new, high paying jobs (in addition to the 400 new
jobs from Project Stallion)
--a regional Center of Excellence for the MRO
industry
--a new Aerospace industry sector, adding resiliency
to the economic base, in addition to tourism and military
--a regional magnet to attract talent and supply
chain businesses
--Enhanced and expanded regional educational programming-
George Stone, Pensacola State College, B.T. Washington and others.
--a pathway to the middle class for many
--1,725 new jobs in the targeted Aviation/Aerospace industry
sector for a fully developed MRO aviation campus (Project Stallion and Project
Titan combined). New jobs will be added as each hangar element is completed.
--Average guaranteed wages >$45,000 per employee (actual
amount is greater)
--3,400 new indirect jobs*
--$400 Million annual personal income increase
--$600 Million Florida GDP annual increase
--Annual rental income of > $1.0 million per year to Pensacola International Airport from ST
Engineering
--Annual ad valorem income of > $3.5 million to City and
County from ST Engineering