Story courtesy of the Bay Economic Development Alliance
ACMT Inc. investing $20 million in the county
Panama City, Florida– The Bay Economic Development Alliance (BayEDA), the City of Lynn Haven, and Bay County announced Aug. 8, that a leading aerospace manufacturing supplier for precision component manufacturing, repair, overhaul and modification is opening a new operation in Bay County, Florida.
ACMT Inc, Advanced Composites & Metalforming Technologies (ACMT), headquartered in the Connecticut, will be opening the new state-of-the art manufacturing facility in Lynn Haven, Florida.
ACMT is purchasing a 159,000 sq. ft. existing facility in the City of Lynn Haven’s Industrial Park. The project represents an investment of approximately $20 million and will bring 105 new advanced manufacturing jobs in the aerospace industry. The average wage for the new jobs will be $43,700. ACMT will be completing aerospace manufacturing on medium to complex components and assemblies at the new facility. The company will also be completing repair and overhaul work on gas turbine components and accessories.
Termed “Project SoHo”, the relationship between BayEDA and ACMT began at the Farnborough International Airshow in 2016. For the expansion project, ACMT completed a nationwide search for the best location to grow their business. Upon review and after several site visits, ACMT officials were impressed with the assets of Bay County and the public/ private economic development team. The workforce, business climate, and the support received from all community leaders led ACMT to selecting Bay County for their expansion project and the Southeast headquarters operations. ACMT intends to work closely with the educational institutions in Bay County through internships, apprenticeships, and workforce training programs. ACMT is already working with Gulf Coast State College in their formation of the Advanced Manufacturing Innovation Institute (AMI2).
“In Bay County, we found a community eager to assist our companies in their expansion of manufacturing into the U.S,” according to Michael Polo, ACMT president. “With this expansion into Lynn Haven, we are better positioned to meet the long-term needs of our key customers throughout the nation. This process has taken nearly a year to complete, however we know that we have made the right decision for our company by selecting Bay County for our new manufacturing facility. We cannot thank all of the community partners, from BayEDA, Bay County Commission, and City of Lynn Haven and many others for their support throughout this process.”
This project was made possible through the combined efforts of BayEDA, the Bay County Commission, the City of Lynn Haven, and the Share the Future Fund Committee within the Bay Chamber of Commerce. BayEDA and ACMT have also worked closely with Enterprise Florida and Space Florida to ensure the success of this project.
Jorge Gonzalez, Chairman of the Bay Economic Development Alliance and President and Chief Executive Officer of The St. Joe Company stated, “We are pleased to welcome ACMT into Bay County. This project represents 105 new advanced manufacturing quality jobs within our community. These new advanced manufacturing quality jobs will offer new career opportunities to our residents that will have a ripple effect in our community for years to come.”
The City of Lynn Haven has been involved in the progression of this project. According to Margo Anderson, Mayor of Lynn Haven, “Having ACMT located in Lynn Haven represents a new company within our community to diversify the career opportunities for the citizens of our city. We thank ACMT for making this substantial investment and long-term commitment to our community by bringing new advanced manufacturing jobs careers to Lynn Haven.
Bay County Commissioner, Tommy Hamm had high remarks for the announcement of ACMT, Inc. within Bay County.
“ACMT will be a fantastic business to be located in Bay County,” stated Commissioner Hamm. “ACMT is making a substantial investment in Bay County through their expansion from Connecticut. We have worked closely with ACMT officials throughout their process to showcase Bay County as the best location for their next aerospace manufacturing operation. Their creation of 105 new careers in aerospace manufacturing provides our citizens with new employment opportunities for years to come. The Bay County Commissioners thank ACMT officials for their commitment and investment within Bay County, Florida,” stated Commissioner Hamm.
About ACMT, Inc.
Founded in 1986, ACMT has grown and diversified into three Strategic Business Units that focus on ways to increase customer satisfaction while increasing the customer’s value-added portion of the product or service.
- OEM Manufacturer of Medium to Complex Components and Assemblies
- Overhaul, Repair, Modification and Inspection of Gas Turbine Components and Accessories
- Adhesives and Chemicals / Formulation and Repackaging of consumable materials
- As the global demand increases for alignment with high quality, performance-based companies, ACMT has stepped up to the challenge, investing in its people and equipment to service this demand.
About Bay Economic Development Alliance
- The Bay County Economic Development Alliance (BayEDA) is Bay County’s economic development entity. Publicly and privately funded, BayEDA serves Bay County in the mission of supporting the existing businesses in Bay County and in the recruitment of new businesses to Bay County. BayEDA supports the existing pillars of the economy and is dedicated to growing and diversifying the Bay County economy.