HOLLAND, Mich. -- S2 Yachts Inc. announced Monday it is adding a 300,000-square-foot expansion at its hometown manufacturing site, creating 400 new jobs.
That represents a 62.5 percent increase in the boat builder's current Holland work force of 640. The expansion also is expected to create an estimated 194 spinoff jobs at other companies.
In return for its $14 million investment, S2 Yachts will receive about $7 million in government incentives.
The governor's office said it will give the company a $4.7 million Single Business Tax credit over a 13-year period and an Economic Development Job Training Grant worth up to $200,000. The city of Holland has proposed local tax abatements totaling about $2.1 million during a 12-year period.
"After some difficult manufacturing setbacks over the past several years, this expansion will bring a boost and much-need jobs to Holland's economy," Gov. Jennifer Granholm said.
S2 Yachts makes Tiara yachts and Pursuit pleasure boats. Besides Holland, the company also has production facilities in Fort Pierce, Fla., and Swansboro, N.C.
Leon Slikkers founded the company in 1974, five years after selling another business, Slickcraft Boat Co., The Grand Rapids Press reported.
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