Metal Shark Expansion Creates 200 Jobs

Press Release
Wednesday, March 20, 2013
Photo: Metal Shark

$1.52 million investment will create 88 direct jobs and result in 134 indirect jobs
 
Louisiana Governor Bobby Jindal and Metal Shark Boats President Chris Allard announced the company will make a $1.52 million capital investment to expand its Jeanerette shipyard in support of military, law enforcement agency and commercial boat contracts. The expansion will create 88 new direct jobs, with an average salary of more than $62,000, plus benefits, and Louisiana Economic Development estimates the project will result in an additional 134 new indirect jobs, for a total of 222 new jobs. The project will also create 25 construction jobs while retaining 144 existing Metal Shark employees.
 
Metal Shark will continue production for its major U.S. Coast Guard response boat contract, fulfilling an order for nearly 500 new watercraft for the Coast Guard's Homeland Security response, and the expansion will boost production of more than two dozen other production models ranging in size from 16 feet to 60 feet.

Gov. Jindal said, "Today's announcement is a win for Acadiana and our entire state. Metal Shark and other companies continue to invest and expand in Louisiana because of our strong business climate and our incomparable workforce. Metal Shark's work for the U.S. Coast Guard, the U.S. Navy and other federal and state agencies allows our state to continue its tradition of helping our nation's military protect the homeland. Metal Shark is just one of many companies here in Louisiana that is meeting the needs of our armed forces while also providing great jobs for our hardworking men and women."

In May 2012, Gov. Jindal dedicated a previous expansion of Metal Shark's facilities in Jeanerette, after the company won a $192 million U.S. Coast Guard contract in November 2011 to build the Response Boat-Small, a watercraft adopted by the Coast Guard to broaden its homeland security mission after the Sept. 11, 2001, terrorist attacks. The company is also building other boat classes for the U.S. Coast Guard, U.S. Navy, local law enforcement agencies and foreign agencies.

The state began working with Metal Shark Boats on the current expansion project in November 2012 and will provide the company with a $750,000 Economic Development Loan Program award, along with the services of LED FastStart®, the nation's top-rated state workforce development program. Metal Shark also is expected to utilize the state's Industrial Tax Exemption and Quality Jobs programs. Construction will begin later this year and hiring for Metal Shark's new jobs is under way.

"The continued support of Louisiana Economic Development has been key to Metal Shark's success over the past few years," Allard said. "These pro-business incentives will enable Metal Shark to sustain its rapid growth by doubling manufacturing capacity over the next 12 months and increasing workforce by at least 30 percent over the next four years. Metal Shark is excited to announce this major facilities expansion, creating the potential for the production of larger vessels greater than 50 feet in length."

www.metalsharkboats.com
 

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

China Shipbuilder Rongsheng in 2013 Revenue Freefall

During the year ended 31, December 2013 China Rongsheng, the largest non-state-owned shipbuilder in the PRC, reports that revenue of the Company was RmB1,343.6 million, a decrease of 83.

RS at SEA JAPAN 2014

Russian Maritime Register of Shipping (RS) was the only Russian company to take part in SEA JAPAN 2014 exhibition and conference – one of the major exhibitions of the maritime industry.

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1185 sec (8 req/sec)