Marlow Yachts is proposing to buy The Boat School, which is based in and owned by the city of Eastport, Maine, and leased to Husson University.
David Marlow told city officials his plans include expanding The Boat School's program from a two-year to a four-year marine trades program while keeping Husson University involved.
He also plans to revamp the campus, expand the existing boatyard and build an on-site yacht manufacturing facility that could create 100 new jobs, the Bangor Daily News reports.
"This could be a godsend for Eastport," city manager Jon Southern told the newspaper. "This business is compatible with every city goal for our working waterfront. It is ecologically friendly. It would create high-quality jobs. It protects The Boat School and retains the partnership we have with Husson."
Marlow said that once a deal for The Boat School finalized he will buy adjoining properties, expand the campus, bring in specialized equipment, such as a 150-ton hydraulic lift, raise the height of existing buildings and construct additional buildings, the newspaper reports.