The City of Pensacola is asking Triumph Gulf Coast for $86 million to help build a major shipbuilding complex at the Port of Pensacola — a proposal that would represent one of the largest industrial investments ever brought forward for the downtown waterfront.
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In a pre-application submitted to Triumph Gulf Coast, the city outlines a plan dubbed Project Maeve. The filing describes a “Tier 2 advanced ship manufacturing facility” that would occupy newly built structures on the municipal port and support about 2,000 jobs over the next five years.
“The City of Pensacola respectfully requests $86,000,000 to assist with construction costs for two boat building facilities at the Port of Pensacola,” the document states.
If realized, the project would add approximately 400,000 square feet of manufacturing space to the port and would be capable of producing modules for Navy ships and submarines, as well as complete surface vessels up to 400 feet long. The filing describes the company behind the proposal as a family-owned firm founded in 1977 with operations in the United States, Australia, Europe, and Asia, and as an “established and trusted partner” delivering “major projects for the U.S. Army, U.S. Coast Guard, and U.S Navy.”
Triumph process does not require public disclosure at the pre-application stage.
What the proposal entails
The total estimated cost of the project is $250 million. Of that, $105 million would cover construction, while $145 million would go toward equipment. The city is seeking $86 million from Triumph and anticipates applying for $14 million from the Florida Job Growth Grant Fund. The company would provide the remaining $150 million.
Under the structure outlined in the filing, the city would retain ownership of the buildings as public infrastructure and enter into a ground lease with the company. The application says the facilities would “be capable of producing complex Navy ship modules for Tier 1 shipyards, submarine modules, and complete surface ships up to 400 feet in length.”
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The filing says Maeve has already developed relationships with Pensacola State College and the University of West Florida to create training pathways for maritime manufacturing and engineering careers. It notes that the company uses apprenticeship and technical training models at an existing facility elsewhere in the Southeast, resulting in a turnover rate of “less than 5%.” The document describes the prospective jobs as high-wage, though it does not provide a detailed pay scale.
A port in transition
The proposal arrives as city leaders are working to redefine the port’s role in Pensacola’s economy. The port occupies about 50 acres of deep-water land at the foot of downtown — a prime location that Mayor D.C. Reeves has said can be both an asset and a constraint.
“What we all know about the characteristics of the Port of Pensacola is its prime location is a huge benefit in some ways, and its only 50-ish acres can be a hindrance in some ways,” Reeves said earlier this year in discussing a separate proposal for an inland port.
That inland port, planned for a 58-acre site on Beggs Lane, is intended to shift long-dwell storage and some industrial activity away from the waterfront. City officials have said freeing up space downtown would allow the port to pursue higher-value, marine-dependent uses.
In recent years, the city has taken steps in that direction. Triumph approved $8.5 million to help secure the American Magic sailing team’s headquarters at the port. The fund also awarded roughly $3.3 million to support the University of West Florida’s Watercraft and Vessel Engineering, or WAVE, center — a research and training program tied to American Magic and other watercraft companies.
Those investments have helped frame the port as a budding hub for watercraft innovation, advanced materials, and high-skill maritime work. A major defense manufacturing complex would extend that trajectory, but at a far larger scale.
A regional and national backdrop
Project Maeve would be the latest in a string of Triumph investments tied to maritime activity. When the board approved funding for the WAVE project, Reeves argued it strengthened Pensacola’s position in an emerging sector.
“We’re very, very excited about planting our flag … as the sailing capital of the United States of America,” he said at the time, adding that the partnership with American Magic “has already brought international attention to Pensacola … It has opened the door to associated industries locating here and (now) has created the opportunity for (this) workforce program, (which is) unlike any other.”
Economist and Triumph advisor Rick Harper called the WAVE initiative “potentially transformational” and said “securing Pensacola as the home for American Magic was a big accomplishment for Northwest Florida.”
The Maeve proposal also arrives amid renewed federal attention on the U.S. shipbuilding base. In his second term, President Donald Trump has emphasized rebuilding domestic ship production for both military and commercial purposes. While the Triumph filing does not reference national policy, it echoes federal language in saying the project meets a “national need for additional capacity, resilience, and competitiveness in the U.S. maritime industrial base.”
What comes next
A Triumph pre-application is only an initial step. It allows staff to assess whether a concept appears eligible under state law but does not involve a public presentation, formal scoring, or funding decision. If the board invites a full application, the city would need to negotiate terms, secure matching funds, and bring any agreements before the Pensacola City Council.
According to the filing, construction could begin immediately if funded and would take about 30 months to complete. Job creation would ramp up to about 50 positions per month once the facility opens.
If approved, the project would place Pensacola at the center of a high-wage, defense-oriented maritime venture.
