Local contractor expanding its operations, adding 29 jobs
TOM McLAUGHLIN / Daily News
Fort Walton Beach-based On-Point Defense Technologies, a contractor focused on designing, developing, testing, and integrating advanced weapon systems, is expanding its Okaloosa County operations.
The more than $1.2 million expansion planned for its offices in the Fort Walton Beach Commerce & Technology Park will allow On-Point to add 29 new jobs, an EDC news release said.
�We are very excited about creating new jobs and bringing new commercial and defense business into the local business community,� said Fred Schor, general partner and strategic advisor for On-Point Defense Technologies.
The company�s decision to expand its local offices was based in part on its receiving a $249,250 grant from the Industry Recruitment, Retention & Expansion Fund (IRREF) Grant Program administered by the University of West Florida, the release said.
The grant program came about through passage of the Oil Recovery Act, an initiative of state Senate President Don Gaetz that has provided $10 million a year for the past three years to Northwest Florida counties impacted by the 2010 Deepwater Horizon oil spill.
�With quality jobs and good salaries contributing to Florida�s thriving defense industry and the diversification of Northwest Florida�s commercial sector, On-Point is exactly the kind of economic development initiative contemplated by the Oil Spill Recovery Act,� Gaetz said in the release.
While a defense contractor adding jobs can�t be considered major diversification in an economy that leans heavily on the military and tourism, EDC Executive Director Nathan Sparks said the wages On-Point pays � 168 percent of the county average � �blows the average wage out of the water.
�This allows us to build on an existing asset,� he said.
Sparks noted that On-Point Defense Technologies also operates in the commercial sector.
The news release credited the city of Fort Walton Beach with playing a role in securing the expansion inside its industrial park.
�It shows evidence of the city�s improved process for economic development collaboration and support,� city Mayor Mike Anderson said in the release.
Contact Daily News Staff Writer Tom McLaughlin at 850-315-4435 or tmclaughlin@nwfdailynews.com. Follow him on Twitter @TomMnwfdn.