FloridaWest Economic Development Alliance announced that Paradigm Parachute & Defense, a disabled-veteran-owned small business, has received their second Industry Resilience and Diversification Fund (IRDF) grant. The grant, administered through the University of West Florida, will assist with the expansion of manufacturing operations in Pensacola.
This grant, made possible by a collaboration between FloridaWest and UWF, will allow Paradigm to continue to grow and create new jobs in Escambia County. The fund was established by the Florida Legislature, the Florida Department of Commerce and UWF to help Northwest Florida businesses grow, innovate and thrive.
Alexander Alvarado, co-owner and CEO of Paradigm, says the grant has allowed them to move into a larger building with an environment that is much more conducive to their manufacturing processes and more professional as well.
“With help from FloridaWest and the grant from UWF, we have created a place with room to grow that tells our customers we are here to stay,” said Alvarado. “Our dream is to build a company that can stand the test of time, a company where the team is proud to work and a company with strong relationships with its customers and suppliers.”
Co-founder and CEO Aaron Nazaruk said choosing Pensacola was strategic.
“Choosing the Pensacola area was a strategic decision because of its rich aviation history, access to a skilled workforce and truly supportive business environment,” said Nazaruk. “Our new, larger facility signifies our commitment to growth and innovation, and allows us to expand our production capabilities and better serve our customers.”
FloridaWest Economic Development Alliance exists to grow the local economy by encouraging companies to relocate to the Pensacola area and by helping local companies grow. The FloridaWest team has been working with Paradigm to achieve its goals and dreams since 2020. Rick Byars, interim CEO for FloridaWest and past chair of the board of directors, said he is amazed by Paradigm’s commitment to growth.
“The speed with which Paradigm is growing its business is staggering,” said Byars. “In just a very short time, this company has grown from 15 employees to nearly 150, and now they’ve moved to a new site and increased their footprint, setting the stage for future growth. Right now, Paradigm Parachute is a leader in commercial, military, humanitarian, government and space operations and Pensacola is super proud of their accomplishments.”
Dr. Martha Saunders, President of the University of West Florida, said IRDF grants have had a significant impact as a catalyst for growth in the region.
“UWF is supporting the Northwest Florida economy through the Industry Resilience and Diversification Fund,” said Dr. Saunders. “We are pleased to continue collaborating with FloridaWest and our other regional partners, and are thrilled to witness the growth of Paradigm Parachute & Defense in our community.”