The Port of Pensacola has been awarded an additional $2.625 million in state funding for the Maritime Center of Excellence, marking the final funding piece needed to complete this exciting project that will ultimately serve as the permanent headquarters for American Magic.
This funding is in addition to the $3.9 million from Gov. Ron DeSantis’ Florida Job Growth Grant Fund and $8.5 million approved by Triumph Gulf Coast for the project, which will include significant renovations to Warehouse 10 at the Port of Pensacola.
“This is another exciting step toward making Pensacola the sailing capital of the United States, and I can’t wait to see this world-class facility come to life at the Port of Pensacola,” Mayor D.C. Reeves said. “I know I speak for many Pensacolians when I say how excited I am to bring American Magic back to Pensacola permanently, putting our city on the map for sailing at a national and international level.”
The $2,625,000 was awarded to the Port of Pensacola through the Florida Seaport Transportation Economic Development program, which allows ports statewide to apply for funding to implement seaport capital improvement projects that support the state’s economic development mission. The funding will be used to construct a dock complex for use by the Maritime Center of Excellence and other port users.
The warehouse renovation and expansion 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 are 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.