North Carolina Gov. Bev Perdue says catamaran builder HC Composites plans to expand its Tarboro, N.C., operations, which will create 120 new jobs in the next three years.
The company will invest $2.65 million in the expansion, made possible in part by a $130,000 grant from the One North Carolina Fund.
“Boat manufacturing is an important part of our economy and the state’s heritage,” Perdue said in a statement. “Our skilled work force and top-ranked business climate are among the many reasons that homegrown companies such as HC Composites continue to flourish and expand in this great state.”
HC Composites, which does business as World Cat, builds a variety of catamaran fishing boats in Tarboro, where it has headquarters and employs 60 workers. The company is purchasing Glacier Bay Catamarans of Seattle and plans to consolidate operations by relocating the cruising power cat builder to Tarboro.
“The union of these two brands will provide incredible synergy and ability to serve our combined customers better. We are extremely fortunate to have this opportunity and look forward to meeting all of the customers and dealers,” said Chris Brockway, president of Glacier Bay and a partner in the two firms’ parent company, in a statement. “World Cat will stay a fishing boat that can cruise while Glacier Bay will continue being a cruising boat that can fish.”
The One NC Fund provides financial assistance through local governments to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job-creation and investment-performance standards to qualify for grant funds.