Yacht contracts to create more than 100 jobs

STURGEON BAY - For an area hit hard by the economic downturn, there is some encouraging news coming out of Door County.

An area shipbuilder is expected to add at least 100 new jobs.

Luxury yacht-builder, Palmer Johnson, says the jobs are being added because it just signed two new contracts.

The deals were reached within the last two months.

Palmer Johnson will soon be busy working on a 215-foot yacht called "Project Stimulus."

The twin-engine vessel will have accommodations for 12 people and includes six cabins.

Earlier this week, the project's official announcement was released by Moran Yacht and Ship in Florida.

That is the company Palmer Johnson is contracted with for the project.

Moran Yacht and Ship officials say this one project alone will create at least 100 jobs.

"It's great news for our community," said Executive Director of Door County Economic Development Corporation, Bill Chaudoir.

Community leaders say these contracts couldn't have come at a better time.

"I doubt there was any sector of the economy more impacted than the luxury goods market and luxury yachts in particular, so they had to deal with the economy and they did it, they stayed alive and they had to make cuts in order to stay alive, and they were able to bring these kind of contracts back and bring folks back to work," Chaudoir said.

Details on a second project have not been released.

Company officials declined an on-camera interview, but sent a statement to FOX 11.

"We are very happy for the community of Sturgeon Bay and the maritime shipbuilding industry as a whole. We are also working with other clients and look forward to more sales in the not too distant future,” wrote Palmer Johnson President Mike Kelsey.

Business owners in Sturgeon Bay are happy to hear work is coming back to town.

"This is great for the economy in Sturgeon Bay, it's been slow and you know, they haven't a lot of work over there for about 2 years so, it's going to be a boost to downtown," said owner of Nautical Inn Tim Clark.

In addition to the two upcoming orders, officials say work is currently being done on a 3rd yacht in a separate project.

Costs of the projects are not being released.

But company officials say these projects will keep them busy through 2014.

At least 500 other jobs for associated industries and service companies will be created because of the Project Stimulus contract, according to dealer Moran Yacht & Ship.

Project Stimulus is the largest yacht sold so far in 2012.