Century Approves ‘Conceptual’ Lease With Foreign Manufacturing Company

February 9, 2023

The Town of Century has approved a “conceptual” lease for a town-owned building in their industrial park.

The foreign-owned company will set up their first domestic manufacturing and warehouse distribution facility serving the oil and gas industry in what is commonly known as the Helicopter Technology Building.

The company has agreed to pay the appraised value of the building — $7.833.33 a month or $94,000 annually. The lease will continue for five years with a 3% annual increase beginning in the third year. The company will accept the building “as-is” and pay all utilities, maintenance, insurance and taxes.

The conceptual lease, drafted by the town’s lawyer, will next go to the company for approval before returning for a final town approval. The company hopes to begin warehouse operations by the end of February with a forthcoming expansion into manufacturing.

According to FloridaWest, the company plans to hire five people initially, with a goal of 10 employees by the end of the year with an average salary of $46,570 — the average wage in the Pensacola area.

RELATED: It’s No Secret: Century’s Mayor Says New Industry Will Jump-start Growth

The town re-acquired the industrial building at public auction for less than $1 out of pocket back in August 2009, following the town’s foreclosure judgment against the now defunct Helicopter Technology company. The building has sat empty since then.

Council members and the mayor have met individually with the company and are familiar with their operations and plans.  The company’s name is not yet known by the public. Florida law allows economic development discussions to remain private until deals are finalized. That’s to prevent other locales from potentially stealing away businesses, and to keep business competitors in the dark on potential expansion plans.

The FloridaWest Economic Development Alliance is the economic development organization for Escambia County. Most details about the new  company and their plans remain confidential during discussions, as is allowed and is standard in economic development in Florida.

NorthEscambia.com photos, click to enlarge.

Comments

5 Responses to “Century Approves ‘Conceptual’ Lease With Foreign Manufacturing Company”

  1. David on February 10th, 2023 8:05 am

    The town of Century has been in existence since 1901. I have had family in the area since it’s beginning as a sawmill community, and I have seen it’s stagnation since the mill closed it’s doors. While the sawmill operated it provided a steady income for a great many families who clustered around it in the homes that lumber from that same mill provided. Perhaps this new business is just that the town needs in order to breathe a fresh breath of life into the surrounding area.

  2. Progress on February 9th, 2023 5:38 pm

    I believe this is a good thing for Century. I hope it works out, and expands. The town has sat stagnant for years, while areas surrounding us is showing progress and growth (ahem, Pensacola, Brownsville, Ensley, Cantonment, 9 mile, Pace, Milton). Progress is not the end all of everything, folks. I promise.

  3. Well on February 9th, 2023 9:51 am

    Certainly hope this works out.
    I believe it’s a good decision by the mayor and council.

  4. knarf on February 9th, 2023 8:59 am

    Pensacola, Brownsville, Ensley, Cantonment, 9 Mile Road, Pea Ridge, Pace, Milton. Used to be nice individual communities then along came growth. Will take some years but the monster is slowly creeping north and Century is in its sights.

  5. Common Sense on February 9th, 2023 6:16 am

    Great job Mayor! Keep up the good work!

Written by William Reynolds · Filed Under News