The Centennial 100 was developed as an improved version of the Found FBA-2. Design work started in October 1966 and the prototype first flew on 7 April 1967. The aircraft is powered by a 290 hp (216 kW) Avco Lycoming IO-540-G1D5 engine. Three prototypes and two production aircraft were built and were used to gain certification for the type in July 1968. No further aircraft were built as the company went out of business.