Townsend Bay Marine, a Port Townsend, Wash.-based boatbuilding and repair facility, has laid off 40 workers after finishing a 127-footer and with no more building projects lined up.
The company has been the largest boatbuilder in Port Townsend's Boat Haven Industrial Park, the Peninsula Daily News reports. Earlier this month, it completed the 127-foot luxury sportfishing yacht Cielo Mare.
Townsend Bay Marine currently has five refit projects under way, CFO David King told the newspaper.
"It has been my experience over the years that the recession hits us later than the rest of the economy," King said of yacht builders.
Earlier this month, Westport Shipyard laid off a small number of employees in Port Angeles, as well as in Westport and Hoquiam.
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