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American Magic has completed its $20.8 million headquarters at the Port of Pensacola, encompassing 56,000 square feet. The project was funded through state grants totaling $16.4 million, with the remaining $4.4 million from lease payments.

The facility will create 170 high-wage jobs and foster partnerships with local educational institutions. American Magic's presence aims to enhance sailing and maritime innovation, leveraging co-location with the University of West Florida's engineering program.

The team, which competes in the America's Cup, will also announce future plans. The facility includes training, engineering, and manufacturing capabilities, supporting both sailing and potential defense industry applications. American Magic has previously serviced private yachts and worked with SailGP teams.