Triumph Gulf Coast, Inc., is a nonprofit corporation organized to oversee the expenditure of 75 percent of all funds recovered by the Florida attorney general for economic damages to the state that resulted from the 2010 Deepwater Horizon oil spill. Triumph Gulf Coast, Inc., is required to administer the distribution of the funds to be used for the recovery, diversification, and enhancement of the eight Northwest Florida counties disproportionately affected by the oil spill. Those counties include Escambia, Santa Rosa, Okaloosa, Walton, Bay, Gulf, Franklin and Wakulla.
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Announcements, News & Correspondence
Triumph Gulf Coast Advances $89 Million in Projects to Create More Than 2,200 High-Wage Jobs Across Northwest Florida
The Triumph Gulf Coast Board met this week in Crawfordville and approved one grant award agreement while advancing another project to term sheet negotiations, moving $89 million forward to support the creation of 2,285 new high-wage jobs across Northwest Florida.
Triumph Gulf Coast continues to actively manage 70 projects currently underway, with an additional 19 projects closed, representing more than $815 million in grants executed since 2018 across the eight Triumph-eligible counties.
Bay County
The Triumph Board voted to approve a grant award agreement with the Bay County Board of County Commissioners for up to $12,825,000 to support the recruitment of Voltari Electric, Project Kilowatt, an advanced marine manufacturing company specializing in carbon-fiber hulls and electric propulsion boats. The company will establish its international headquarters, research and development operations, and manufacturing facilities in Bay County with a total capital investment of approximately $37,575,000.
Triumph grant funds will support the acquisition of an 11.55-acre waterfront property with three existing warehouse and manufacturing facilities and direct access to St. Andrews Bay. Bay County will maintain ownership of the land and facilities while entering into a long-term lease agreement with the company.
Voltari Electric’s arrival strengthens Bay County and Northwest Florida’s growing position in the global marine manufacturing industry. The project will create 285 new high-wage jobs by 2030 with an average annual wage of $77,000. The company has already secured contracts with the U.S. Navy and Canadian Coast Guard, providing recurring revenue and financial sustainability. They will partner with local educational institutions including Gulf Coast State College, Florida State University’s InSPIRE program, University of West Florida’s WAVE program, and Haney Technical School on workforce development pathways for regional residents.
Escambia County
The Triumph Board voted to advance to term sheet negotiations with the City of Pensacola for up to $76,000,000 to support the recruitment of Birdon American, Project Maeve at the Port of Pensacola, a major expansion that will establish Project Maeve’s Southeastern Headquarters and a Tier 2 advanced ship manufacturing facility at the Port of Pensacola. Triumph funding will be used exclusively for construction costs associated with two new shipbuilding facilities at the Port of Pensacola.
The Port of Pensacola and Northwest Florida continue to grow as a national hub for advanced shipbuilding, maritime technology, and defense-related manufacturing. The company will create approximately 2,000 new high-wage jobs over five years, including an estimated 1,437 advanced manufacturing positions and 563 engineering and administrative jobs, with average annual wages projected to exceed $80,000, or roughly 140 percent of the current Escambia County average wage.
The new facilities will be capable of producing complex Navy ship modules for Tier 1 yards, submarine modules, and complete surface vessels up to 400 feet, directly supporting the federal objective of restoring America’s maritime dominance and expanding the U.S. maritime industrial base. The company plans to leverage partnerships with UWF’s WAVE Center, Pensacola State College, and IHMC to create a sustained talent pipeline and applied research ecosystem.
The Triumph Gulf Coast Board of Directors is appointed by the Governor, Attorney General, Chief Financial Officer, and presiding officers of the Legislature. The appointees to the Triumph Board are Jay Trumbull, Sr. (Chair), David Humphreys (Vice-Chair), Leslie Weiss (Treasurer), Bryan Corr, Sr. (Assistant Treasurer), and Charles Rigdon. All meetings of the Board are public.
STATUTORY WEBSITE NOTICE PURSUANT TO s. 288.8016, Florida Statutes (2017)
Please take notice that on January 28, 2026, at its regular meeting, the Board of Triumph Gulf Coast, Inc., will take up for consideration and intends to approve the following proposals for award of funding and amendments to existing awards pursuant to s. 288.8017, Florida Statutes (2017):
Proposal #365
Applicant: Bay County, Florida, acting through its authorized Board of County Commissioners
Funding Request: Up to $12,825,000
Summary of Proposed Grant Award Agreement
Amendment to Existing Grant Award Agreement for Project #120
Applicant: City of Pensacola
Additional Funding Request: $0
Proposed Amendments: clarify permissible use of grant and matching funds; add an 18-month expenditure submission deadline; extend the Project’s completion deadline; clarify funding schedule change requests; update reporting requirements; add contractual indemnity language requirements; add ownership of improvements section; update audit requirements and guidelines; add remedy language; add severability clause; update notice language; add electronic signature permission; reallocate funds between budget categories.
Summary of Proposed Third Amendment to Grant Award Agreement
Amendment to Existing Grant Award Agreement for Project #185
Applicant: City of Panama City
Additional Funding Request: $0
Proposed Amendments: add 18-month expenditure submission deadline; update completion deadline; update audit requirements and guidelines
Summary of Proposed Third Amendment to Grant Award Agreement
Amendment to Existing Grant Award Agreement for Project #258
Applicant: Bay County, Florida, acting through its authorized Board of County Commissioners
Additional Funding Request: $0
Proposed Amendments: add 18-month expenditure submission deadline and 6-month waiver deadline; update audit requirements and guidelines; update performance metrics; add electronic signature permission
Summary of Proposed Third Amendment to Grant Award Agreement
Amendment to Existing Grant Award Agreement for Project #271
Applicant: The School Board of Okaloosa County, Florida
Additional Funding Request: $0
Proposed Amendments: add 18-month expenditure submission deadline; add ownership of improvements section; update audit requirements and guidelines; update timeline to repay language; add electronic signature permission; reallocate funds between budget categories
Summary of Proposed Second Amendment to Grant Award Agreement
Any person interested in being heard on these matters may attend and address the Board prior to a vote on approval of any award. Information regarding the time and place for the January 28, 2026, Board Meeting may be found by clicking here.
Any questions or inquiries regarding this notice or the award may be directed to: Cori Henderson, Program Administrator at [email protected].