Crestview, a city in Florida’s panhandle, provides a good illustration of how public-private partnerships can provide a win-win to both communities and businesses.
Crestview’s News Bulletin reports on how a P-3 initiative has led to recent construction of a new administrative building for L3 Crestview Aerospace at Crestview’s Bob Sikes Airport. L3 Crestview Aerospace is a division of L3 Integrated Systems. The company is a provider of aircraft modification and aerostructure fabrication and assembly. L3 Integrated Systems’ parent, L3 Communications is a prime system contractor in command, control, communications, intelligence, surveillance and reconnaissance systems.
Crestview’s News Bulletin also reports that work on an 80,000-square foot hangar on L3’s local campus will begin later this year. The construction is a result of a public-private partnership among Okaloosa County’s Economic Development Council, local government and business. It is believed L3’s expansion will bring 340 new jobs to L3, while enabling the company to also retain 80 positions. The expansion represents a capital investment of $13.7 million. The EDC is a non-profit, independent organization funded by private business owners.
The paper further reports that “EDC has 20 active projects, including four in the Crestview area that together could provide nearly 1,500 new jobs."
The original article in Crestview’s News Bulletin can be found here.
