GOV. EASLEY ANNOUNCES THE CREATION OF 858 JOBS FOR NAVASSA
JDIG Helps Bring Major Boat Builder to Brunswick County

RALEIGH – Gov. Mike Easley today announced that Brunswick Corporation will begin manufacturing boats in Navassa, creating 858 jobs and investing $51.2 million during the next five years.  The project was made possible in part by a Job Development Investment Grant.

“We are proud that Brunswick chose North Carolina as the best location for these jobs,” Easley said.  “Our state has a boat-building heritage dating back more than 200 years.  Brunswick’s decision shows that one of the industry’s premier companies recognizes our state offers both an experienced workforce and opportunities to make sure those workers have continued training so businesses can grow and succeed.”

Brunswick is acquiring the Rampage Yachts boat building facility in Navassa.  The jobs created by Brunswick will provide employment opportunities for area residents that are consistent with the area’s environment and community needs. While the pay for these jobs will vary depending on skills and responsibilities, the overall average wage for all the new jobs is $31,293 a year plus benefits, which is higher than the county average of $30,576.

“We are pleased to be expanding Brunswick’s presence in North Carolina, where we already have several manufacturing facilities,” said Dustan McCoy, Brunswick’s chairman and chief executive officer.  “With its maritime heritage, skilled marine workforce and hospitable business climate, our partnership and presence in North Carolina are highly valued by Brunswick.”

McCoy said the ample space and deep water access of the Navassa facility will allow his company to meet the growing demand for boats 45 feet and larger.  Brands the company plans to produce at the plant include Meridian Yachts as well as Bayliner and Maxum cruisers.

Brunswick Corporation, which is headquartered outside Chicago, employs more than 27,000 people worldwide with total net sales in 2006 of $5.7 billion.  Brunswick makes pleasure boats, Mercury Marine engines, Life Fitness equipment and Brunswick bowling and billiards equipment as well as operates 100 family bowling centers.

The Brunswick Boat Group, a division of the Brunswick Corporation, is the largest maker of pleasure boats in the world with 2006 net sales of $2.8 billion.  That group includes boats sold under the brand names Sea Ray, Boston Whaler, Lund Boats, Albemarle, Cabo Yachts and Hatteras Yachts, among others.

The company currently employs about 1,500 people in North Carolina, the majority of whom work for Hatteras Yachts, which manufactures all of its boats in New Bern and Swansboro.  The company also owns an Albemarle sportsfishing plant in Edenton.

Partners who helped make the project possible include the N.C. Department of Commerce, Brunswick Community College, Brunswick County, the Brunswick County Economic Development Commission, the N.C. Small Business and Technology Development Center’s Boating Industry Services Division, N.C. Southeast partnership and Progress Energy.

The state’s Economic Investment Committee voted earlier today to award a Job Development Investment Grant to facilitate the project. Under the terms of the JDIG agreement, a 10-year grant will be established.

Over the life of the grant, the N.C. Department of Commerce estimates the project will:

•          Generate a cumulative gross state product value of $909.4 million;
•          Produce a positive, cumulative net state revenue impact of $24.2 million; and
•          Contribute up to $1.45 million to the state’s Industrial Development Fund for infrastructure improvements in    economically distressed areas of North Carolina.  This contribution is required of grant recipients that locate in the state’s more prosperous counties. 

For each year the company meets required performance targets, the state will provide a grant equivalent to 60 percent of the state personal income withholding taxes derived from the creation of the new jobs.  If Brunswick creates all of the jobs called for under the agreement and sustains them for 10 years, the company could receive a maximum benefit from the JDIG of $4.36 million.

Job Development Investment Grants are awarded only to new and expanding businesses and industrial projects whose benefits exceed the costs to the state and which would not be undertaken in North Carolina without the grant.  Since the first grant was awarded in 2003, the program has been responsible for creating more than 20,000 jobs and $3 billion in investments in North Carolina.

For more information about Brunswick Corporation including job opportunities, visit www.brunswick.com.

###