A group of Excel Boats executives, local government officials and a group that specializes in tax-credit investments held a site visit on Tuesday to the future site of Excel Boats’ new facility in Ridgely, Tenn. The aluminum builder, headquartered in Mountain View, Ark., plans to break ground in the next 30 days on the 100,000-sq. ft. facility.
The State Gazette reported that the facility will open in one of the 25 poorest countries in the U.S. “Excel Boats is continuing to move on with the expansion of our company and the construction of our new facility in Ridgely,” said J. Paul Jackson, Excel Boats Business Operations Manager at the event. “This is a new market tax-incentive program project, and Excel has been very fortunate to receive an allocation for part of the needed funding through that program from Dudley Ventures in Phoenix, Arizona.”
Officials from Dudley Ventures, including its chief compliance officer and a board member, were at the event. Excel expects to create more than 200 jobs at the facility over the next five years.