BIZ LIST

SUZUKI Announces New Marine Technical Center

Last March, Suzuki Motor of America, Inc. announced plans for its future Suzuki Marine Technical Center USA, scheduled to be built on a 20-acre waterfront property in Panama City, Florida. While the official launch date for this project is still unknown, Suzuki is currently finishing renovations on existing building sites on the property.

“As a mobility company, Suzuki is about empowering people to enjoy the Great Outdoors and travel freely by land and sea,” said Max Yamamoto, President Suzuki Motor of America, Inc. “We are planning a state-of-the-art Suzuki Marine Technical Center that will help us to develop, test and refine the best possible Suzuki outboard products for today and tomorrow. Our goal is to improve people’s lives on the water, and ensure everyday mobility for as many people as possible,” added Yamamoto.

Suzuki will work with various city, state, and federal government agencies to restore, repair, and redevelop the location previously used for Marine Transportation’s Logistical headquarters (MT and a Florida State University Research Facility. The company plans to work in collaboration with U.S.-based boat and accessory manufacturers to develop and improve its products (currently outboard motors from 2.5 to 350 horsepower) using the resources this unique location provides – a launch ramp, a large basin area for running and testing boats/motors, and a protected harbor.

Suzuki expects that during the first year, three to five people will be employed at the facility and live in the area. At various times, additional part-time employees will be needed depending upon the workload.

Over the next three years, Suzuki expects to add additional employees every year as the scope of operation grows. In addition, Suzuki intends to use the facility for new product launches, testing, and training. Suzuki has more than 1,200 dealers and does business with more than 150 U.S.- based boat companies, who along with engineers from Japan, will be visiting the facility. These activities will contribute to the local economy through increased air travel, hotel stays, restaurant visits, and other assorted expenses associated with business travel.

BancorpSouth Bank

BancorpSouth Bank announced they have officially completed its previously announced mergers with Panama City, Florida-based Summit Financial Enterprises, Inc., the parent company of Summit Bank, National Association (collectively referred to as "Summit"), and Van Alstyne, Texas-based Van Alstyne Financial Corporation, the parent company of Texas Star Bank (collectively referred to as "Texas Star").

"We're pleased to combine with these two great community banks that share our core values," said BancorpSouth Chairman and Chief Executive Officer Dan Rollins. "These partnerships allow us to build scale and add talented bankers in strategically important markets for us in Florida and Texas."

At this time, customers should continue using their current branches, checks, bank cards, online banking and other banking services. Detailed communications will be provided to all Summit Bank and Texas Star Bank customers prior to the system conversions.

"We are absolutely thrilled to join forces with BancorpSouth, which shares our deep commitment to customer service and community involvement," said BancorpSouth President - Northwest Florida Division Andy Stein, former president and chief executive officer of Summit Bank. "We're now able to leverage BancorpSouth's resources, team and exceptional suite of products and services to continue to create extraordinary experiences for our customers."

"We're extremely proud of what we've accomplished for more than 100 years, and we're looking forward to the added benefits this new partnership will bring to our customers and community," said BancorpSouth President - Grayson County, Texas Market Randle Jones, former president of Texas Star Bank. "This merger allows us to provide customers with the best products, added convenience and remarkable service from bankers they already know and trust."

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Please contact Taylor Smith at 850-215-3755 or via email taylor@baychamberfl.com.