Christensen Yachts To Build Megayachts in Tennessee

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.