RIEDC Aids Goetz Custom Boats with Workforce Development, Financing
January 22, 2008 | Print this page | Share This | Email this page
Bristol’s Goetz Custom Boats was recently awarded a Governor’s Workforce Board grant of $68,000 to train 20 new employees as well as financing that helped the company build a 43,000-square-foot manufacturing facility in Bristol. The Rhode Island Economic Development Corporation assisted Goetz in obtaining both the workforce grant and financing for their new facility.
The workforce grant, approved by the Governor’s Workforce Board, is currently being used to train boat builders at Goetz. “There is a learning curve that requires specific training for these carbon fiber boats,” says Sara Watson, Marketing and Public Relations Director for Goetz Custom Boats. “We’ve developed a training program that takes the builder through the step-by-step process of building a boat, from the composite structure to plumbing and electrical work. We are looking for great generalists who can work on any part of the boat.”
Goetz boats aren’t just your run-of-the-mill boats. The company needs specifically-trained boat builders for a reason — Goetz is known throughout the world for composite construction on boats that compete in the America’s Cup, Admiral’s Cup and Maxi Worlds as well as boats for the military, and sail and power yachts for leisure. “We strive to produce the lightest, strongest boats,” Watson says.
The RIEDC assisted Goetz in obtaining both the workforce grant and financing. “Paul Harden [RIEDC Marine Trades Sector Lead] helped us through the process,” Watson says. “He reviewed our ideas, offered suggestions and connected us with the right people. He was very accessible and helpful.”
RIEDC helped Goetz obtain a $4.3 million bond from the Rhode Island Industrial Facilities Corporation to build a 43,000-square-foot manufacturing facility in Bristol (twice the size of their original building). The bond and the workforce grant allowed the company to hire 20 new employees trained to build Goetz boats in their new facility. Goetz received the bond in December 2006 and immediately began work on the facility, which was completed in September 2007.
Eric Goetz, founder and CEO of Goetz Custom Boats, said Rhode Island was a natural place to begin his business 30 years ago and to expand it here in 2007. “We like Bristol and Rhode Island,” he says. “There is knowledge and an appreciation of what we do here. If there is a [marine] industry concern, we are listened to. Of course, no sales tax on boats in Rhode Island is a plus. This is the kind of support we need for our industry.”
