Birdon / Project Maeve
2,000 "direct jobs at the Port" at $80,000/140% of county average (and $81,200/145% elsewhere in the same filing) — $76M requested of a $275M shipbuilding project.
Nothing, yet. The drafted instruments would bind ≥2,000 full-time-equivalents across eight counties (subcontractors included) at a 115% wage floor, with a $38,000/job clawback capped at $76M — owed by "Project Maeve America, Inc.," a Delaware entity with no parent guaranty in any document we hold.
The term sheet was board-approved ~2026-06-22 — approved is not binding; the grant agreement is targeted for Summer 2026 and two City Council votes remain. The Mayor confirmed on the record that not all two thousand jobs will be at the Port.
The bet, as filed
The application — signed by Mayor D.C. Reeves 2025-10-24, scored "A" by Triumph staff — seeks $76,000,000 of a $275,000,000 project: two City-owned shipbuilding facilities (~400,000 sq ft) at the Port, leased to a company, for "≈2,000 jobs over 5 years."
The pitch wage is "$80,000/yr = 140% of Escambia average" — and, fourteen pages later in the same application, "$81,200 = 145%." The enforceable number in the draft instruments is a floor of 115% (≈$64k). Both application figures are preserved; the internal inconsistency is the record's, not ours.
The binding jobs definition diverges from the pitch: "2,000 direct jobs at the facility" becomes ≥2,000 "Net New Jobs" — FTEs anywhere in the eight Triumph counties, subcontractors included, by 2035. The Mayor, on the record: "not all two thousand will be on port."
The proposed clawback: $38,000 per job short (= $76M ÷ 2,000), proportional, capped at $76M — owed solely by "the Company."
The obligor question — who actually owes the $76M?
The binding record names the contracting entity: "PROJECT MAEVE AMERICA, INC., a Delaware corporation" (the Exclusivity Agreement). The narrative record — the Port's own FY2025 financial report — names "Birdon America Inc." Both are official; no document we hold connects them, and no document contains a parent guaranty.
Collectability of the $76M clawback therefore depends on the undocumented relationship between a Delaware entity of unknown capitalization and the substantial operating shipbuilder (Birdon America, Inc. — Denver, CO; ~$1.19B Coast Guard Waterways Commerce Cutter contract). A project-specific SPV with the parent named in narrative is common; a guaranty may appear at GAA or lease. Recorded as an open question and accountability signal — not an allegation.
The keystone assumption
The 2,000 jobs rest on federal shipbuilding demand the Company must win and retain (Coast Guard, Navy, DoD/DHS). Neither Triumph nor the City controls this — the single load-bearing dependency American Magic never had.
Open questions
Where does the pending $14M Florida Commerce request sit inside the $22.28M City match?
Was the Term Sheet later executed, and when do the two required City Council approvals (GAA, then lease) occur?
The clawback trigger contains a genuine textual ambiguity — "fails to timely achieve BOTH Performance Metrics" — that materially affects when clawback bites. Flagged for a human reading of the executed instrument.
Relationships in the graph
- City of Pensacola —applied_for→ Birdon / Project Maeve (#367) verified S-09
- Triumph Gulf Coast, Inc. —staff_recommended_award→ Birdon / Project Maeve (#367) verified S-10
- Triumph Gulf Coast, Inc. —approved_term_sheet_nonbinding→ Birdon / Project Maeve (#367) reported S-14 S-15
- City of Pensacola —grants_exclusivity_to→ Project Maeve America, Inc. verified S-13
- Project Maeve America, Inc. —obligor_of→ Birdon / Project Maeve (#367) proposed S-11 S-12
- Project Maeve America, Inc. —will_lease_from→ City of Pensacola proposed S-14
- Project Maeve America, Inc. —operates_under_candidate→ Birdon America, Inc. (Birdon Group) inferred S-13 S-15
- Birdon / Project Maeve (#367) —adjacent_to→ American Magic (#315) reported S-09 S-13
- American Magic (#315) —catalyzed_candidate→ Birdon / Project Maeve (#367) inferred S-09 S-13
- Birdon / Project Maeve (#367) —located_at→ Port of Pensacola verified S-09 S-13
- UWF WAVE (#330) —teaming_agreement_with→ Birdon / Project Maeve (#367) reported S-09
- Florida Institute for Human and Machine Cognition (IHMC) —partners_with→ Birdon / Project Maeve (#367) reported S-09
- Who stands behind the $76M — the Project Maeve America ↔ Birdon lineage? —concerns→ Project Maeve America, Inc. monitored S-13 S-15
- Who stands behind the $76M — the Project Maeve America ↔ Birdon lineage? —concerns→ Birdon / Project Maeve (#367) monitored S-13 S-15
- The federal-demand keystones: the order books behind 2,000 jobs and 5 wings/yr —concerns→ Birdon / Project Maeve (#367) monitored S-09 S-25
- Where does the pending $14M Florida Commerce request sit in Birdon's match? —concerns→ Birdon / Project Maeve (#367) monitored S-09 S-11
From data/graph.json — every edge carries its epistemic status and source citations.
Sources behind this page's runs
- S-07 Triumph Gulf Coast, Inc. — Semi-Annual Report, January 2026 – June 2026
- S-09 "Project Maeve at the Port of Pensacola" — Triumph Gulf Coast Application #367
- S-10 Triumph Gulf Coast — Application Score Sheet, Project Maeve (#367), Score "A"
- S-11 Term Sheet for Grant Award Agreement, Triumph Gulf Coast ↔ City of Pensacola (#367)
- S-12 Performance Agreement (Exhibit "A" to the #367 Term Sheet) — Company → Triumph
- S-13 Exclusivity Agreement — City of Pensacola ↔ Project Maeve America, Inc. (a Delaware corporation)
- S-14 Mayor D.C. Reeves — recorded public statement
- S-15 Port of Pensacola FY2025 Annual Financial Report (MD&A)
- S-16 Contract — City of Pensacola ↔ R J Gorman (Bid #26-029), HPMCE Dock Complex landside construction
- S-17 City of Pensacola Agenda Conference memo #26-190 — "AWARD OF BID 26-029 – HPMCE DOCK COMPLEX"