Jim Turner, with News Service of Florida, reports the first installment of the BP settlement money will be distributed by Triumph Gulf Coast’s board of directors. More than $18 million will be given out once terms are negotiated between the local areas receiving funds and the state regarding performance requirements.
On June 12, Triumph Gulf Coast approved the final contract for $10 million to the Port of Panama City to help develop new terminal facilities. In April, it was reported that $1.5 million will go towards water and sewer lines in a new industrial site in North Okaloosa County. $6.75 million will go to career and technical education programs in Wakulla and Escambia counties.
The Port of Panama City, which is receiving additional funds from other programs, will eventually employ 140 additional jobs. This project will also bring another 250 manufacturing and distribution jobs.
This is just the start of an educational and economic boost for the 8 Panhandle counties that will be receiving funds over the next several years!
For more information read: