Okaloosa County, Fla. (July 13, 2023) – Central Moloney, Inc., (“CMI”) headquartered in Pine Bluff, Arkansas, announced the selection of Okaloosa County, Florida for a new, state-of-the-art manufacturing facility that will specialize in producing pad-mounted electrical transformers.
The 302,000 SF facility will be developed on a 48 acre parcel currently owned by Okaloosa County and located at the southwest corner of US Highway 90 and Jericho Road in the 10,500 acre Shoal River Ranch Gigasite. CMI and the Okaloosa County Board of County Commissioners previously agreed to terms on the 48 acre parcel and concurrently entered into a three year purchase option for an additional 10 acre parcel in order to accommodate future company growth. The total cost of constructing and equipping the new advanced manufacturing facility is projected to be approximately $50 million, and 350 higher-wage jobs are expected to be created as the company scales up to full production.
“When the Okaloosa County Board of County Commissioners initiated efforts to extend needed infrastructure to the Shoal River Ranch Gigasite several years ago, advanced manufacturing was at the top of our list of desired industry targets. In light of this, we couldn’t be happier with Central Moloney’s decision to construct their new transformer manufacturing facility at Shoal River Ranch and become the property’s first tenant. We are optimistic they will set the standard for more great opportunities down the road,” said Commissioner Trey Goodwin, Chairman, Okaloosa County Board of County Commissioners.
Central Moloney, Inc. President/CEO Chris Hart can’t contain his optimism about this announcement. “We firmly believe that the only way to coast is downhill”, Hart said. “This announcement is continued proof that NO ONE in the CMI family has plans to coast! We will, once again, be moving toward our commitment to become the premier manufacturer of electrical distribution transformers in the world. Our company is known for bringing power to the people. We will now begin the process of bringing power in many forms to the people in Okaloosa County!”
“We had the pleasure of first getting connected to Central Moloney in early 2021 through our partners at Florida’s Great Northwest. From that first initial meeting with Chris Hart and his team - and a subsequent visit to their headquarters in Arkansas - it was obvious that this is a company who values its people and the communities they call home. As they have already proven with their initial investment in Bay County last year, CMI is committed to becoming part of the fabric of northwest Florida. We enthusiastically welcome them to Okaloosa County,” said Nathan Sparks, Executive Director, One Okaloosa EDC.
“Adding a second company location within the supporting and thriving region of Northwest Florida offers numerous advantages,” said Jennifer Conoley, President & CEO of Florida’s Great Northwest. “The decision to build a new facility in Okaloosa County will have an enormous impact on other job seekers, suppliers, and community partners. Through this new manufacturing location, a total of 468 direct, indirect, and induced jobs are projected to be created equaling over $27 million in new salaries because of the ripple effect of this highimpact industry. We are thrilled to have found a corporate partner like Central Moloney Inc. that is committed to long-term growth in Northwest Florida.”
Central Moloney anticipates holding a ceremonial groundbreaking ceremony at Shoal River Ranch in late 2023 / early 2024. Facility design, engineering, permitting and construction of the 302,000 facility and related improvements are expected to take 24-36 months, with additional on-site infrastructure at Shoal River Ranch to be undertaken concurrently with continued support from the Okaloosa County Board of County Commissioners, Triumph Gulf Coast and the Florida Jobs Growth Grant Fund.
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.
Founded in 1989, One Okaloosa EDC is a 501(c)(6) non-profit, public-private partnership serving Okaloosa County, Florida and its nine municipalities (Cinco Bayou, Crestview, Destin, Fort Walton Beach, Laurel Hill, Mary Esther, Niceville, Shalimar and Valparaiso). As the community’s lead economic development organization, One Okaloosa is committed to fostering economic diversification and prosperity through comprehensive strategies and initiatives. In addition to its public partners, One Okaloosa enjoys broad support from more than 130 leading private sector businesses representing a wide range of industry sectors. More information is available at www.oneokaloosa.org.
NORTHWEST FLORIDA’S STATE LEGISLATIVE DELEGATION GATHE RS WITH BUSINESS LEADERS IN TALLAHASSEE
Tallahassee, FL – This week, community leaders from the region’s 13 counties gathered in the State’s Capitol to support the legislators from Northwest Florida to demonstrate the commitment to their state leadership roles that are critical keys to the region’s success in economic competitiveness.Read More »
Florida Secretary of Commerce J. Alex Kelly Appoints Jennifer Conoley to the SelectFlorida Board of Directors
Florida Secretary of Commerce J. Alex Kelly announced the first SelectFlorida Board of Directors, appointing Greg Britton, Jennifer Conoley, Beth Kigel, Nick Primrose, Michael Simas, Kelly Smallridge and Mark Wilson to the board.Read More »
Florida's Great Northwest Hosts Top Site Location Consultants in Marianna
Florida's Great Northwest (FGNW) hosted four top site location consultants this month in Marianna, Florida as part of their ‘Beyond Our Beaches’ Site Selector Mission.Read More »
Florida’s Great Northwest CEO Recognized as One of Florida’s Most Influential Business Leaders
Northwest Florida – Jennifer Conoley, President & CEO of Florida’s Great Northwest (FGNW), has been named to Florida Trend’s prestigious Florida 500 list. This annual list highlights the 500 most influential executives in different economic sectors throughout the state of Florida. The editors of Florida Trend conducted a year-long research initiative resulting in a personal and engaging look at the state's most influential business leaders.Read More »
SAVE THE DATES: Northwest Florida Days 2024
We kindly ask for you to please save the dates for our 2024 Northwest Florida Days events in Tallahassee during Florida’s Legislative Session: January 17th - 18th, 2024.Read More »
Over 100 Regional Leaders Gather with Nationally Recognized Workforce and Data Strategist
Filling open positions with a qualified workforce is the number one site selection factor in many companies’ decisions about where to locate or expand. This workforce gap is found in nearly every city across the United States. While it’s not a unique program to our region, Florida’s Great Northwest and Opportunity Florida, regional economic development organizations in Northwest Florida, hosted an event to explore the truth in data and dispel myths related to workforce challenges.Read More »
FLORIDA’S GREAT NORTHWEST FOUNDATION ANNOUNCES SELECTION OF LEADERSHIP NORTHWEST FLORIDA CLASS II
Florida’s Great Northwest (FGNW) Foundation has selected its participants for Leadership Northwest Florida. Twenty-two leaders were selected to participate in Class II of the program focused on regional collaboration through community, content and connection.Read More »
National Workforce Strategist Addresses Labor Force Challenges at Upcoming Luncheon
Florida’s Great Northwest and Opportunity Florida invite business leaders to “Difficult Conversations About Workforce”Read More »
Central Moloney, Inc. Creates 550 Jobs in Northwest Florida
Leading Transformer Manufacturer Establishes Locations in Bay and Okaloosa Counties, Investing $75 millionRead More »
Northwest Florida Labor Supply & Demand Research Analysis Year 2 Update
ABLE Operations was tasked with providing Florida’s Great Northwest (FGNW) with research and analysis of the regional labor market. This document is an update to Florida’s Great Northwest Supply & Demand Research Analysis completed in March 2021. In addition to the industries and occupations identified in the previous study, this update will consider the labor market for nursing and cyber security occupations. The update of this study includes additional years of data and adjusted growth forecasts for the region. The purpose of this study is to inform Florida’s Great Northwest and Triumph Gulf Coast of strengths and potential gaps between key regional industries’ demand for employees, and the ability of the local training/education institutions to supply these skills.Read More »
Keep up with the latest news from Florida's Great Northwest