Malibu Boats is expanding its Cobalt boat brand production in East Tennessee with a $75 million expansion of its plant in Lenoir City.
Malibu Boats said it will add up to 770 jobs in an existing facility at the Roane Regional Business and Technology Park.
"Our local craftsmen and craftswomen are the driving force behind our operations as they create top-of-the-line boats that enrich our customers' lives and, in turn, enable our company to thrive," Malibu Boats CEO Jack Springer said in an announcement of the plant expansion. "Our history of company vitality speaks for itself, where we've undertaken various investments in our manufacturing footprint like this one that have enabled revenue growth and employment opportunities year after year."
The Lenoir City location will be the company's second plant outside of its headquarters in Loudon, Tennessee. Executives said it will allow the company to expand production and manufacturing capabilities of Cobalt boats to better meet demand.
Founded in 1982, Malibu Boats has about 3,000 employees. Production and hiring for its new Cobalt boats facility are anticipated to begin in the first quarter of 2024.
— Compiled by Dave Flessner