Since acquiring the property of the former north florida shipyards, FMR has made significant investments more than 25 million dollars to modernize the facility and equipment

These include substantial improvements to transform the waterfront and upgrades to shipyard equipment, as part of an overall plan. Notably, FMR is working to acquire a new floating drydock that will significantly increase the size of vessels the shipyard can service. For example, FMR expects to hire 200 to 300 new workers due to this addition, more than doubling its current workforce of around 150 including permanent and temporary full time workers. FMR is planning to invest an additional 35 million dollars in the facility over the next five years. Overall, these improvements will lead to enhanced repair service capabilities for larger vessels particularly U.S. Navy vessels and will increase the number of jobs at the shipyard. To support this increase in shipyard capacity, FMR requires increased fabrication capacity and supporting equipment. FMR is requesting grant funding for four projects to acquire new equipment to support its planned capacity increases, as follows mooring bollard upgrade acquisition of a new press brake acquisition of a new air compressor acquisition of a new ironworker combined, these projects will create significant efficiencies by providing increased fabrication capacity and compressed, at each of the shipyards newly renovated pier-side berths. The air compressor project will be able to plug directly into the new dock walls pre-installed distribution system of utility trenches and piping systems. Finally, the mooring bollard upgrade project will allow larger vessels to berth at the shipyard, even during hurricane conditions.