BAY COUNTY, Fla. (WMBB) — Central Moloney Incorporated, or CMI, is getting ready to set up shop in Bay County.

The company’s President and CEO Chris Hart met with community members Thursday to tell them more about his Arkansas-based business.

“We’re family and we’re not just numbers, we’re names,” Hart said. “So the name is the Central Moloney family and it’s great to be here.”

CMI will be leasing a 140,000 sq. ft. facility in Panama City Beach that was originally going to house GKN.

Hart said his business will create 200 jobs.

The employee-owned company anticipates making a mark on the community both electrically and personally.

“They’re very philanthropic. The employees last year at Arkansas gave more than $100,000 to United Way,” Bay Economic Development Alliance President Becca Hardin said. “They’ll be very involved in our community. And they come from a culture that’s very, very similar to ours here in Bay County. They’ll be like family. They’ll be a great fit.”

Hart hopes to have the business fully up and running by the end of the year.

“We are glad to occupy the former GKN building and that’s the last time you’ll ever hear me refer to it as that,” Hart said.

They will be hiring the first 50 employees within the next couple of months.

For a link to learn more about CMI, click here.