A group of community leaders met Wednesday in Crawfordville to hammer out the details.
The multi-use facility will feature a living museum showcasing the fishing industry on the Gulf Coast.
From mullet fishermen to blue crabs, many say it's important to preserve their history.
"It's time to do one here because we're losing this heritage. The fishing industry is not as successful as has been in the past,” says Maritime Center developer Bill Lowrie.
Lowrie says the Big Bend Maritime Center will be located in Panacea, and he says it will be at least a year before construction begins.