Investment in Panama City Grows

Panama City’s proximity to water is one of its biggest draws to outsiders – but in 2018, when Hurricane Michael hit the city, that waterfront location also resulted in the city being devastated by floodwaters. In the time since then, the proximity to water combined with Panama City’s recovery efforts has led the city to become home to a rapidly growing maritime and shipping industry. Among the largest investments in Panama City are:

• Suzuki will be developing a marine technical center – the first of its kind outside of Japan
• Mercury Marine has established a testing facility in Panama City
• Eastern Shipbuilding, one of the premier shipyards on the East Coast and the builder of high-profile projects such as the Staten Island Ferry, is headquartered in Panama City
• The Port of Panama City has invested over $50 million in improvements over recent years, with plans to invest an additional $35 million over the next five years

Industry leaders are flocking to the Port of Panama City – and for good reason. With its convenient location, business development openings, and recreational facilities, Panama City’s coastline is an ideal destination for shipping investors, maritime enthusiasts, and avid boaters.