"Triumph Gulf Coast’s board of directors voted [on April 27, 2018] to approve nearly $19
million in grants to promote economic diversification in four coastal
Northwest Florida counties.
The grants are the first in what is expected to be $1.5 billion worth
of job-creating initiatives funded over the next twelve years by an
economic damages settlement between the State of Florida and BP as a
result of the 2010 Deepwater Horizon oil spill. Triumph Gulf Coast is a
seven-member, unpaid board established by the Florida Legislature to
make awards that will promote and strengthen the economy of the eight
Gulf coast counties disproportionately affected by the spill.
The first grant approved by the Triumph board will provide $10
million to the Port of Panama City for a major expansion of port
capacity. The project develops new East Terminal facilities that will
support over 140 direct high-wage jobs at the port and more than 250
additional port-dependent manufacturing and distribution jobs that could
not locate in the region absent a working port...."