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‘Project Dynamo’ Offers $2.5 Million For 25 Acres Of OLF-8 To Bring 210 New Jobs
June 7, 2024
A company looking to create 210 new jobs has made a $2.5 million offer for a portion of the county-owned OLF-8 property.
The Escambia County Commission voted 3-0 Thursday evening, with Commissioner Lumon May absent, to enter into negotiations.
The FloridaWest Economic Development Alliance presented the industrial project with codename “Project Dynamo” to the Escambia County Commission. The name of the company or the nature of their business has not been announced as is allowed under Florida law during economic development negotiations.
Some of the 210 proposed jobs will be part time; the company expects 170 to 189 full-time positions to be created with a total annual payroll of $5.1 to $5.6 million.
The company offered the $2.5 million — $100,000 per acre for 25 acres of the 540 acre parcel at the extreme northwest corner of OLF-8 bordering Frank Reeder Road. The company wants to be in a completed facility by October 2025.
“OLF-8 is the only location in Escambia County the company is considering,” FloridaWest said.
Project Dynamo Details:
- ±25 Acre Site, extreme northwest corner of OLF-8 (Light Industrial Area)
- Offer to purchase at $100,000 per acre for a total of $2.5 million
- Building size: ~110,000sf
- Capital Investment: Minimum $35 million
- Construction type: Tilt-Up Concrete with parking, lighting and landscaping
Project Dynamo Workforce:
- o Total Workforce : 210 employees
- o Full-time Equivalent (FTE) employees: 170-189 est.
- o Minimum starting Pay: $16.50/hr. + comprehensive benefits for full-time jobs
- o Annual Payroll: $5.1 – $5.6 million est.
“This project is an excellent fit for OLF-8 and should help to stimulate additional development and investment in the park. FloridaWest will work with the County and other partners to pursue Triumph Grant Funding to support required infrastructure including roads and utilities, within and nearby OLF-8,” FloridaWest noted in their presentation to the county.
NorthEscambia.com graphic.
Comments
11 Responses to “‘Project Dynamo’ Offers $2.5 Million For 25 Acres Of OLF-8 To Bring 210 New Jobs”
The square footage of 110,000 is a common one for warehouse distribution centers -with about 18 bays for big trucks going in and out – day and night.
How would you like to live next door or across the street from that? At the least, it needs to be heavily screened with trees between the site and the residential neighbors.
Starting with a warehouse will set the example for what comes next, too. Not what is appropriate for Beulah at this point. Not high paying jobs like the BCC has repeatedly said they want.
Infrastructure is already over loaded…yet Bergosh is trying hard to sell this…NO..let’s have some green space. Vote in November. We need some new county commissioners.
Project Dynamo sounds a lot like a Project Amazo
Floridawest strikes again (or didnt)….
Stop these greedy commissioners. When they can take care of problems we already have then move on. Hurricane season is here take care of drainage problems. Just go buy a steak and wine at store and fix it yourself.
Road and traffic improvements need to happen now, way before anymore development.
Concur with the idea that these are not high paying good jobs. And a tilt up concrete building = ugly. And 210 cars (workers) plus business traffic at Beulah Rd and Frank Reeder sounds like more nightmare. Inadequate infrasructure for these ideas. Sounds like might be a warehouse and add heavy trucks to the mix.
Does something HAVE to be built in EVERY open space? Please……….no more. I am sure the wildlife will be worse off. I think there needs to be a FREEZE on anyomre money making building adventures
$5.1M / 170 employees is $30,000 annual ($14.42/hour). Doesn’t sound like much economic development happening here!! Fast food now pays this much…..or more!
@Frank
My thoughts exactly. Lots of low paying jobs. Just what we need…
Am i missing the math?
$16.50 minimum with 180 employees is over $6.2 M annual ?
$5M i like $12 hour?
And with upper management Salaries?