Miami boatbuilder Bertram Yachts has halted an expansion plan and trimmed its work force due to lack of demand for its products.
A year ago, Miami-Dade business recruiters announced that Bertram Yachts would expand its Miami River plant and add 150 jobs in the next few years, according to the Miami Herald. In exchange, the county and state would give the company $1 million in tax refunds and other incentives.
The deal was negotiated in 2007 before the economy sank into recession. Since then, South Florida's boating industry has been hit hard.