Orlando boat manufacturer has created 150 jobs since 2010
Governor Rick Scott today celebrated Correct Craft’s recent growth where the company has added 150 jobs since 2010 and continues to be a leader in the recreation and competition boating industry.
Governor Scott said. “Correct Craft is a great Florida manufacturer. This year, we made it our priority to build up Florida manufacturing so companies like Correct Craft could expand and grow in the Sunshine State. By removing the tax on manufacturing equipment, Florida businesses like Correct Craft will now be able meet their full potential and finally be on a level playing field when competing against other states, and other countries. With more than 330,000 private-sector jobs created since December 2010 and unemployment well below the national average, it is clear that IT’S WORKING in Florida.”
Correct Craft Inc., the creator of Nautique boats, was founded in 1925 and is the oldest family-owned boat builder in the U.S. Nautique has the industry’s best product portfolio of waterski and wakeboard boats, as well as a list of innovations including their leading product innovations for the towboat category. In 2012, they won “Manufacturer of the Year” and “Most Innovative Product of the Year” for the launch of their two new boats, Super Air Nautique G23 and G25.
Bill Yeargin, Correct Craft President and CEO said, “All of us at Correct Craft are thrilled to be recognized by the Governor for our strong growth and job creation. We are also very appreciative of the support we have received from the Governor and the State as we work to further develop international markets.”
Correct Craft’s work with Enterprise Florida’s International Trade and Development offices helped improve the company’s sales by attending major international events such as the Governor’s 2011 international mission to Brazil, Shanghai Boat Show in 2012 and the Dubai International Boat Show in 2013. Since 2009, Correct Craft has nearly doubled the number of Nautique boats it exports, a total of 307 boats. 2011 and 2012 were the highest export years in the company’s history and Correct Craft is on track to set a new export record in 2013 representing approximately 40 percent of the company’s total volume sales.
Two new boat models (G23 and G25) have helped drive export and domestic sales, enabling Correct Craft to increase its workforce by 58 percent compared to 2010 levels. The highly skilled factory positions contribute to the local Orlando economy.
“Correct Craft focus on exports has really paid off and we are thrilled to have helped them find new international markets,” said Secretary of Commerce Gray Swoope, who serves as President & CEO of Enterprise Florida. “Bill and his team have capitalized on Florida’s unparalleled access to overseas markets and have done a great job in distributing their industry-leading boats to those new customers.”
Exporting is one of the best ways for Florida small businesses to grow and expand the state’s job base. According to the U.S. Department of Commerce, Florida companies that export grow 15 percent faster and pay 30 percent higher wages than the state average. Last fiscal year alone, companies assisted by Enterprise Florida reported expected international sales of more than $725 million.
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Enterprise Florida, Inc. is a partnership between Florida’s business and government leaders and is the principal economic development organization for the state of Florida. Enterprise Florida’s mission is to facilitate job growth for Florida’s businesses and citizens leading to a vibrant statewide economy. In pursuit of its mission, Enterprise Florida works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.