Wakulla County approves agreements to build Point Blank manufacturing facility, citing 300 jobs and grant funding

WAKULLA COUNTY — The Wakulla County Board of County Commissioners on a unanimous vote approved a package of agreements Tuesday to build a manufacturing facility for Point Blank Enterprises, a body‑armor and aerospace components company, as part of “Project Safety.” County staff and economic development officials said the project is expected to create roughly 300 local jobs with an average wage of about $53,000 and will be funded primarily with state and regional grants alongside a county financing mechanism.

The board approved an economic development incentive agreement that ties lease and grant responsibilities to the company’s obligations. Michelle Metcalf, presenting the agreement, said Point Blank must create a minimum of 300 new county jobs and maintain them for at least three years, and must make a capital equipment investment of $8 million. The lease term will run at least 10 years or until the county’s grant‑financing obligations are satisfied.

Why it matters: County and EDC leaders framed the project as a major step in diversifying Wakulla County’s economy beyond tourism and seafood, citing prior investments such as the War Eagle Academy and a $10.7 million radio system grant secured through Triumph Gulf Coast. Julie Dennis of the Wakulla Economic Development Council said the Duke Energy economic impact analysis estimates about 300 direct jobs, roughly 200 indirect jobs and about $46 million in wages circulating locally.

How the financing works: Greg James, Wakulla County’s clerk of court and comptroller, explained the county will use a $10 million revolving line of credit as a construction cash‑flow tool to front reimbursable grants. Under the county’s preferred scenario (staff’s “Scenario 1”), approximately $21 million in construction costs would be fully covered by grants; the county would draw interest‑only construction funds and be repaid as grant reimbursements arrive. Under an alternate scenario with higher costs (roughly $24.5 million), the county anticipates a deficit in the neighborhood of $3 million that would be amortized and repaid through lease payments from Point Blank.

Legal and risk protections: County counsel (Evan) outlined contractual protections intended to limit county exposure. Those include rent set to offset any project cost delta, indemnification clauses, required security instruments (corporate guarantee, letter of credit or surety bond), and a county lien on fixtures and equipment (junior to lender liens). Counsel also said Triumph Gulf Coast’s separate agreement imposes certain job and investment obligations directly on Point Blank and gives Triumph recourse against the company rather than the county if the company fails to meet those obligations.

Public comment and concerns: Stephanie Mosley, a resident, questioned using a $4.5 million infrastructure grant for a private company and sought clarification about how property and intangible lease taxes would be handled if the county owns the facility. County officials replied that the lease is triple‑net (the lessee pays property taxes, utilities, insurance and maintenance) and that intangible/lease tax and tangible property taxes on fixtures and equipment would be billed to the company.

Other board actions tied to the project: Commissioners also approved the initial lease terms for the facility on roughly 20 acres in Opportunity Park, authorized execution of a $10 million revolving credit agreement to support construction cash flow, and awarded a design‑build services contract to Allstate Construction to deliver preconstruction design and a guaranteed maximum price (GMP) proposal. Staff said Allstate agreed to provide a 60% preliminary GMP to help assess whether the project is within budget before final commitments.

What remains: Staff said the final guaranteed maximum construction price is expected to be developed by the design‑builder and presented back to the board; an amendment to the lease and related documents will follow once that GMP is set. Under the agreements, if Point Blank fails to meet its obligations the company may be liable for reimbursement to the county and grant agencies may seek clawbacks under their rules.

Board vote and next steps: After brief discussion and public comment, a commissioner moved, a second was recorded and the board voted unanimous "aye" to approve the incentive agreement and the related lease, credit and procurement items. Staff said construction spending would begin in mid‑2026 under the county’s schedule, with an initial period of land purchases and engineering work and a potential groundbreaking this fall.