Northwest Florida – Central Moloney, Inc. (CMI), a manufacturer of distribution transformers and transformer components headquartered in Pine Bluff, Ark., has selected two locations for new manufacturing facilities within Northwest Florida as they focus on their long-term growth. At full capacity, the two Northwest Florida locations are expected to employ 550 individuals with a capital investment of $75 million.
In January 2022, CMI made its first commitment to the region by announcing the establishment of a manufacturing facility in Panama City, Fla. (Bay County) at VentureCrossing Enterprise Centre. CMI is producing single-phase pole-mounted transformers at this location in an existing 140,000 sq. ft. advanced manufacturing facility. The company is hiring its new Florida employees with plans to create at least 200 jobs once at full capacity and invest at least $25 million in the facility.
In July 2023, CMI announced its plans to build a second manufacturing facility, a state-of-the-art 302,000 sq. ft. building in Crestview, Fla. (Okaloosa County) on a 48-acre parcel at the Shoal River Ranch Gigasite. CMI will be the first tenant of the 10,500-acre industrial property. At this facility, CMI will specialize in producing pad-mounted transformers. The cost of constructing and equipping the new advanced manufacturing facility is projected to be $50 million, and 350 jobs are expected to be created as the company scales up to full production.
“Establishing two facilities within the thriving region of Northwest Florida offers numerous advantages,” said Jennifer Conoley, President & CEO of Florida’s Great Northwest. “Through both manufacturing locations, a total of 830 direct, indirect, and induced jobs are projected to be created, equaling over $46.7 million in new salaries because of the ripple effect of this high-impact industry. We are thrilled to have found a corporate partner like Central Moloney, Inc. that is committed to long-term growth in Northwest Florida.”
“We will, once again, be moving toward our commitment to become the world's premier manufacturer of electrical distribution transformers,” said Chris Hart, President & CEO of CMI. “We looked at some other sites and some other locations, but quite frankly, the opportunities and incentives in Northwest Florida made it a can’t-miss. Northwest Florida is the future for us.”
The transformer industry has a backlog of demand because of aging infrastructure and growth demands. Customers are in high demand for these products, which exceeds the production capability of CMI’s current manufacturing footprint as well as that of its competitors.
Florida’s Great Northwest was the lead facilitator in introducing CMI’s leadership team all the opportunities for business success throughout Northwest Florida. Through FGNW’s strong partnership and collaboration with the county partners of the Bay Economic Development Alliance and One Okaloosa Economic Development Council, these two organizations, alongside countless partners, brought these projects to completion.
Headquartered in Pine Bluff, Arkansas, with a facility in Bay County, Florida, Central Moloney, Inc. is an ISO 9001 certified company, manufacturing distribution transformers and transformer components. Since 1949, CMI has been delivering quality products on time with professional service and reliability every step of the way. CMI offers a wide variety of single-phase and three-phase distribution transformers including overheads, pad mounts, and submersibles. For decades, CMI has led the industry with innovative products to improve the quality and reliability of electrical power equipment and was the first to introduce thermoplastic primary and secondary bushings to the transformer industry. More information is available at www.centralmoloneyinc.com.
Florida’s Great Northwest is the regional economic development organization for the 12-county region of the Florida Panhandle. The organization's purpose is to promote Northwest Florida for economic growth and diversification, to advocate for economic development issues that affect the region, and to collaborate to improve regional competitiveness. Beyond our beaches, Northwest Florida offers business competitive, bottom-line advantages in workforce training, upgraded infrastructure, access to a host of defense assets, and a diverse base of industries that already call the region home. For more information, visit FloridasGreatNorthwest.com.
Entrepreneurship and Innovation in Florida
In 2020, Florida patented 5,513 inventions recorded by the USPTO. As a result, there has been a startup boom, with more than 50,000 monthly business applications since 2020.
Read More »
U.S. News has recognized Florida as a top-ranking state in economy, education, and job growth.
In recent months, U.S. News has recognized Florida as a top-ranking state in economy, education, and job growth. These achievements represent the growth and continued development occurring within the Sunshine State.
Read More »
U.S. News and World Report Ranks Florida #1 in Higher Education
Florida was recently ranked #1 in the country for Higher Education by the U.S. News and World Report. This ranking reflects the 74%, 4 Year College Graduation Rate, as well as the 62%, 2 Year College Graduation Rate.
Read More »
Florida Ranked 2nd Best State for Business
Florida was ranked #2 in a survey by Chief Executive to discover what states are the best for doing business.
Read More »
Northwest Florida Capitalizes on Aerospace Opportunities at Farnborough International Airshow
Florida’s Great Northwest (FGNW) led a local delegation to the Farnborough International Airshow in mid-July aiming to attract aerospace companies to consider Northwest Florida as a prime location for aviation business success. FGNW was a host sponsor of the SelectFlorida Pavilion and was surrounded by other major aerospace players in Florida, including two Pensacola-based companies, Paradigm Parachute & Defense and Viewpoint Systems.
Read More »
APPLICATION WINDOW NOW OPEN FOR CLASS III OF NORTHWEST FLORIDA’S REGIONAL LEADERSHIP PROGRAM
Northwest, FL – Applications are now being accepted for Class III of Leadership Northwest Florida, a regional collaboration program offered by Florida’s Great Northwest Foundation.
Read More »
FloridaCommerce Secretary Explores Regional Opportunities on Familiarization Tour Hosted by Florida's Great Northwest
Economic Development Project Wins and Industrial Site Readiness were the Focus of the Tour
Read More »
Florida Ranked 4th in Military Defense Spending in The Nation
In Florida, the aviation and military industry plays a vital role in the state's economy. Recently, Florida was ranked 4th in military defense spending in the nation. This ranking represents $30.2 Billion and 5.4% of the Department of Defense's total expenditures in the United States. Most of this spending contributes to the state's aviation and aerospace industry.
Read More »
Florida was ranked 4th in High Tech Employment
Florida was ranked 4th in High Tech Employment by CompTIA research.
Read More »
REGIONAL COLLABORATION PROGRAM CELEBRATES ITS SECOND CLASS OF GRADUATES
At a closing retreat and graduation ceremony on May 17, 2024, Florida’s Great Northwest (FGNW) Foundation honored its new graduates from Leadership Northwest Florida, a regional collaboration program focused on community, content, and connection.
Read More »
