Panama City, Florida – (February 13, 2019) – The Bay Economic
Development Alliance (BayEDA) and the Bay County Commission announced today that
an international foundation, Casa Laxmi Foundation, Inc., 501(c)(3) (Casa
Laxmi), is establishing an international boarding school for students from
kindergarten through grade 12 in Bay County, Florida. The boarding school will
have a philanthropic emphasis where half of the students will be fee-paying,
while the other half will be students on scholarship through the Casa Laxmi
Foundation. The institution will recruit
students from around the globe. It will provide world-class educational
programs and instill servant-leadership principles throughout the curriculum. Once fully operational, the boarding school
will have an enrollment of approximately 300 students with a broad
Laxmi Foundation, headquartered in Toronto, Canada, has purchased 260 acres in
northern Bay County on the Fanning Bayou which includes approximately one mile
of shoreline. The boading school will be one of the few marine centric schools
in the world. The project represents an
investment of approximately $117 million and will bring 300 new jobs to Bay
County. The average wage for the new jobs will be over $50,000 annually.
Termed “Project Royal”, the relationship between BayEDA and Casa Laxmi began approximately one year ago during Casa Laxmi’s initial interest in establishing the school in the state of Florida. For the project, the Casa Laxmi Foundation has engaged local architects and consultants in the initial design phases of the school. Casa Laxmi is also collaborating with universities in North America to bring in various areas of expertise to the students who attend the boarding school.
According to Kiran Kulkarni, CEO, Casa Laxmi Foundation, “In Bay County, Florida, we found a community eager to assist us in the process of establishing the Institute. From BayEDA, Bay County, and local stakeholders, the willingness to assist in all necessary areas solidified our decision to establish our institution in Bay County. We are excited to be establishing our school in this community and look forward to engaging with local partners to support the area. The site in Fanning Bayou perfectly met our needs to ensure safe, direct water access to support our marine centric school.”
Sandy Sims, Chairman of the Bay Economic Development Alliance and District General Manager, Gulf Power Company stated, “We are excited to welcome Casa Laxmi to Bay County. This project represents 300 new high paying jobs and a significant capital investment to our community. This project also further expands our international community in Bay County and will provide us the opportunity to showcase Bay County around the globe.
Commissioner, Tommy Hamm, had high remarks for the announcement of this elite
international boarding school within Bay County.
“Casa Laxmi will be a fantastic addition to Bay County. We welcome the Casa Laxmi Foundation in the establishment of this international boarding school and look forward to showcasing our community to the future students and their families. The project is important now more than ever as it represents significant job creation and capital investment for our community during this period of rebuilding after Hurricane Michael, stated Commissioner Hamm.