Central Moloney adding new facility, jobs in Florida
In a news release yesterday, Central Moloney, Inc. announced what it called “its most exciting endeavor since becoming an employee-owned company over two decades ago.” The transformer manufacturer, based in Pine Bluff, Arkansas, has formalized plans to establish a brand new manufacturing facility in Bay County, Florida.
CMI cited “an increased presence in the transformer market and ever-increasing demand for its services” as motives for the new premises.
Set to be located in the Venture Crossings Enterprise Center in Panama City Beach, this 140,000 square foot facility will be primarily geared to producing single-phase pole mounted transformers and will service the company’s U.S. client base. The company’s initial investment will exceed $20 million with the anticipation of employing more than 200 from the Florida panhandle area.
“Several entities took part in the full-fledged recruitment” of the 70+ year company to Florida, CMI added. These include the Bay County Economic Development Alliance, Florida’s Great Northwest, The St. Joe Company, the Triumph Gulf Coast Fund, the University of West Florida’s Industry Recruitment Fund and Careersource Gulf Coast. “Their combined efforts, and the opportunities and incentives provided made this location the obvious home for the newest CMI location.”
Central Moloney, Inc.’s President and CEO, Chris Hart, says “We couldn’t be happier to announce that our next chapter of growth involves an area and community full of welcoming stakeholders.” “Recent years have taught us many lessons. Our customer base continues to grow and so do our commitments to them. As this happens, it becomes more important to be able to bring those into our family who share our dedication to building the very best transformers in the world. The place for us to do that is Bay County, Florida.”
“Pine Bluff is still home. In order to remain strong here at home, we have to cultivate opportunities elsewhere. By moving one product line out, we get better at what remains while building a state-of-the-art facility dedicated to just pole mounted transformers.” “We firmly believe that the only way to coast is by going downhill. Our mission is not to coast. We will grow and grow the right way. Our story is just beginning.”