Gulf Cable recently obtained another 30 acres within the Santa Rosa Industrial Park in Milton, Fla., with plans to further expand. In three years, reports the Pensacola News Journal, the manufacturing company could occupy 1.2 million square feet of building space and employ 600 to 800 people, according to Kevin Bate, the executive vice president of Gulf Cable's parent company WTEC Energy.
Bate recently attended a Board of County Commission Committee of the Whole meeting to update the governing board regarding current operations and future plans. Three days later at their regular meeting commissioners voted to accept a staff recommendation and convey the desired 30 acres of industrial park land to Gulf Cable at no cost, reports the Pensacola News Journal.
The $2.5 million price tag for the land was waived because Gulf Cable's capital investment will exceed $20 million, the company will add more than 100 new jobs and pay an anticipated wage of 115% of the county average, county documents show.
Gulf Cable, which has been in Santa Rosa County since 2006, manufactures insulated cable that is shipped all over the country for use at solar and wind energy generation sites. The company currently has 650,000 square feet under one roof at the industrial park in Santa Rosa County.