The New Facility will build 12 Models of Cobalt Boats and Create 770 New Jobs
LENOIR CITY, Tenn. – Tennessee Gov. Bill Lee, Department of Economic and Community Development Commissioner Stuart C. McWhorter and Malibu Boats officials announced today the company will invest $75 million to expand manufacturing operations in East Tennessee.
Malibu Boats will create 770 new jobs in Roane County over the next five years as the company locates some of its Cobalt boat brand production in an existing facility at the Roane Regional Business and Technology Park.
The Lenoir City location will be the company’s second plant outside of its headquarters in Loudon, Tennessee, and will allow the company to expand production and manufacturing capabilities of Cobalt boats to better meet its growing global customer demand.
Malibu Boats, LLC is a subsidiary of Malibu Boats, Inc. and one of the largest employers in East Tennessee. The company designs, engineers, manufactures, markets, and sells recreational powerboats globally. Founded in 1982, the parent company employs roughly 3,000 people. Production and hiring for its new Cobalt boats facility are anticipated to begin in the first quarter of 2024.
Since 2019, TNECD has supported more than 50 economic development projects in the East Tennessee region, resulting in approximately 7,200 job commitments and $2 billion in capital investment.