The expansion of two manufacturers is expected to create 155 jobs in Lexington.
Tidewater Boats and Electro-Spec are expanding in multi-county industrial parks inside municipal limits on Brickyard Road and Industrial Road, respectively.
Tidewater Boats, which designs and manufactures 24 models of saltwater boats, began in Lexington in 2006 and currently employs 160 people. Its $8.3 million investment, announced Jan. 3, is expected to add 100 jobs.
Electro-Spec, founded in 1959, specializes in gold, silver, nickel, copper and its proprietary Tri-M3 plating for aerospace, medical and automotive industries. The company’s first expansion outside of its Indiana headquarters will bring 55 jobs to the community, along with an investment of $3.1 million.
Otis Rawl, president of the Greater Lexington Chamber, said the expansions will help draw new business to Lexington County. He said the success of Tidewater could be the key to even bigger businesses choosing Lexington for their headquarters.
“What we need is a mega-industrial park that will bring a number of technology jobs and industrial manufacturing, jobs with high pay and good benefits,” Rawl said. “It’s our job to pull together to build bigger facilities and have product for companies to see. We’re not ready for that now. We don’t have enough product.”
Lexington Mayor Steve MacDougall praised the expansion in a news release.
“The Town of Lexington is fortunate to not have one but two multi-county industrial parks that will generate more than an $11 million investment, along with the creation of 155 jobs, to serve our community,” MacDougall said.