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Tax credits spur boatbuilder's relocation - Trade Only Today

Tax credits spur boatbuilder's relocation

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Wisconsin Gov. Jim Doyle announced this week that Lake Assault Boats will receive $111,000 in tax credits from the Commerce Department's economic development tax credit program to move production from Minnesota to Superior, Wis.

"One of my top priorities is to help move companies and communities forward and create good-paying jobs for our citizens," Doyle said in a statement. "I'm pleased that we could assist Lake Assault Boats LLC in bringing new jobs to Wisconsin."

Lake Assault Boats was formed in 2003 in Minnesota as a custom fishing boat manufacturer. The company also started producing workboats for local, state, and federal government agencies. In 2009, Fraser Industries Inc. purchased the assets of Lake Assault Boats and moved the company to Fraser Shipyards in Superior.

The project will create 14 jobs in Wisconsin and represents $1.1 million in investment.

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