Triumph Gulf Coast board votes to uphold contract with Eastern Shipbuilding
A contract with plans to bring thousands of jobs to the area was upheld Wednesday at the Triumph Gulf Coast meeting.
The contract, which is between Panama City, Eastern Shipbuilding and the U.S. Coast Guard, was put into place before Hurricane Michael and says Triumph Gulf Coast will provide $20 million to create a shipbuilding facility to build Coast Guard cutters.
Triumph board members agreed to technical changes in the contract, but nothing major was changed. Board members say this contract greatly benefits the economy.
Don Gaetz, the Chairman of the Triumph Gulf Coast Board, said, "We're talking here about well over a thousand jobs, and these are good paying jobs. These are jobs that pay more than the average wage in Bay County, and so, anytime you can add one of those jobs and make sure that a family in Bay County is able to increase it's income, that's good for everybody."
The contracting is something that is already completed and projects are now underway.