Factory Expansion Funding Approved
Two ordinances establishing funding authorization and an account for the $1.55 million expansion of the Excel Boat Factory in Mountain View were adopted by the Stone County Quorum Court Thursday night.
Stone County Judge Stacey Avey explained the ordinances were necessary to set up a separate account for the expansion project. He said the approximately 15,000 square foot expansion has been designed by an architect and is being reviewed by Excel executives.
Ric Wilcox, vice president of the Stone County Area Industrial Development Corporation (SCAIDC), said the funding for the project is coming from several different directions. He said $700,000 is coming from the Arkansas Economic Development Commission, $150,000 will come from White River Planning & Development District in the form of a loan to SCAIDC, $200,000 will come from the Delta Regional Authority, $250,000 will come from the county revolving fund that is designated for industrial growth, and Excel’s owner and president Glen Foreman is furnishing $500,000 of his own money.
Plans are for construction of the expansion to begin sometime this winter. When completed, the expansion is projected to provide 25 additional jobs in the factory, which now has 53 employees. D.J. Speer, plant manager, said the expansion is necessary because the factory has completely run out of room, and the demand for their boats is increasing. He said the plant is having trouble furnishing boats to their present dealers, and that they can’t accept more dealers until the project is complete. Excel Boats will produce close to 1,000 boats this year, he said.
Both ordinances were passed unanimously by the quorum court.
See the full story in the Sept. 20, 2017 issue for other action by the quorum court.