The Okaloosa Board of County Commissioners unanimously approved a resolution Tuesday to submit a $16.8 million application to Triumph Gulf Coast, Inc. for Project Opal, which officials describe as the largest single economic development investment in Northwest Florida’s history.

• The project involves a confidential aerospace company planning to construct a 1 million square foot manufacturing complex for critical aircraft systems serving both commercial and defense markets. The company has selected a 135-acre parcel within the Shoal River Ranch Gigasite, contingent on finalizing infrastructure support.

“We knew that it was going to take everything we have in terms of creativity to land a very significant opportunity,” said Nathan Sparks, executive director of One Okaloosa Economic Development Council. “All in, the total investment is $1,040,819,000.00, making this the single largest economic development project in terms of investment in Northwest Florida’s history.”

The project would create 336 jobs with an average annual wage of $69,434, which is 122% of the county’s current average wage of $56,849. 

The development is planned in three phases, with construction potentially beginning as early as this summer. The first phase includes a 250,000-square-foot facility to be completed by December 2026. The second phase will add another 250,000 square feet by the end of 2028, bringing the total to 500,000 square feet with an investment exceeding $200 million. 

• The final phase, planned for 2035-2036, would add an additional 500,000 square feet to reach the full 1 million square foot complex.

“This economic development on the north end is going to help alleviate some of the pressure on our roads and bridges,” said Commissioner Drew Palmer. “I’m so excited about this to have a billion dollar investment. I know this isn’t the first domino to fall, but I think it’s one of the biggest.”

Commission Chairman Paul Mixon expressed enthusiasm about the project’s progress and recalled earlier efforts to showcase the property’s potential.

“I remember a few years ago when we loaded Secretary Kelly in my truck and we went legitimate four wheeling through the ranch to go cast the vision,” Mixon said. “It’s great to see things like this, to know that he retained that and has utilized it to help our favor in the future.”

If approved, the $16.8 million from Triumph Gulf Coast would fund public infrastructure including site design, road extensions, water and sewer lines, stormwater systems, security fencing, and parking areas. The company is committing $140 million in matching funds.

If the Triumph board moves forward with the application at their April 23 meeting, the company could break ground as early as summer 2025, with support from the governor’s office.