A regional economic development board will decide Wednesday whether to spend $76 million to bring thousands of high-paying manufacturing jobs to the Port of Pensacola. The decision could significantly shape how much funding remains for other projects across the Florida Panhandle.
The board, known as Triumph Gulf Coast, is scheduled to vote on whether to authorize negotiations for Project Maeve, a proposed shipbuilding and maritime manufacturing campus at the city-owned port. The action would not finalize the grant. Instead, it would allow staff and attorneys to negotiate a term sheet — a draft agreement that sets conditions, performance targets and financial safeguards before any money is awarded.
According to the city’s application, Project Maeve is expected to create about 2,000 jobs over five years, with average wages projected to exceed $80,000 — well above state and national averages. Triumph staff estimates the project would generate $33.60 in additional household income for every dollar invested over a 10-year period…