According to the Pensacola News Journal, Pensacola and ST Aerospace have a tentative agreement and have signed a Memorandum of Understanding with ST Aerospace, Mobile, Inc.
The non-binding agreement is aimed at enticing the company to Pensacola International Airport. ST Aerospace is an MRO providing service for large commercial aircraft.
Plans include locating an operation at Pensacola International Airport Commerce Park that could bring 300 new jobs to Pensacola during the next several years.
According to the PNJ story, discussions with ST began in early 2012 when company officers contacted the city about the possibility of moving part of its Mobile operations to Pensacola. Other cities have also been considered including Crestview and Dothan, Ala.
Pensacola mayor, Ashton Hayward, was subsequently criticized by some for announcing the MOU sooner than some felt appropriate.