Christensen Yachts will build yachts costing up to $50m at a new $20m,
400,000-sq. ft. facility on Tellico Lake southwest of
Knoxville, Tenn. Construction is scheduled to start this year and be completed in
two years. Christensen President Joe Foggia said the plant initially will
have 500 employees, but he added that plans call for doubling that number
in six years. The new facility will be built on Tellico Reservoir
Development Agency property. Tellico Lake was built by the Tennessee Valley
Authority (TVA) in the late 1970s.