C21 Ryan Realty | December 14, 2024
IAG Aero Group Establishing Operations in Bay County, Florida
Historic $107 Million Investment Brings 500 Aviation Jobs, Bolstering Region’s Aerospace Hub
[December 11, 2024]
Bay County, Florida, has secured a landmark economic development project, as IAG Aero Group establishes operations in the area. This strategic partnership between Northwest Florida Beaches International Airport (ECP), Bay Economic Development Alliance (Bay EDA), and Florida’s Great Northwest accelerates regional growth.
Key Highlights:
- Massive Investment: $107 million capital infusion
- Job Creation: 500 new aviation positions
- State-of-the-Art Facilities: 120,000-square-foot MRO facility and rare engine test cell
- Transformative Impact: $479 million in additional household income projected over the next decade
“This game-changing project showcases our region’s attractiveness for aerospace investment,” said Mark Sheldon, Chair of the Airport Board of Directors. “IAG Aero Group’s arrival solidifies Bay County’s reputation as a center for aviation excellence.”
Strategic Partnership:
ECP, Bay EDA, and Florida’s Great Northwest collaborated to secure Triumph Gulf Coast funding and demonstrate Bay County’s viability for IAG Aero Group’s expansion.
“IAG Aero Group’s selection of Bay County validates our region’s capacity for aviation excellence,” said Becca Hardin, President of Bay EDA. “This project propels Northwest Florida forward, attracting investment and interest in our area as a hub for aviation innovation.”
IAG Aero Group’s Plans:
- 120,000-square-foot aircraft engine MRO facility
- 40,000-square-foot engine test cell
- Existing 140,000-square-foot facility for warehouse and parts distribution
Regional Benefits:
- Workforce development and infrastructure enhancements
- Enhanced regional competitiveness
- Diversified economy
Construction Timeline: Commencing soon, with completion expected in 2026.
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