Job creation in the Holland area

HOLLAND, Mich. (NEWSCHANNEL 3) - For years, Tiara Yachts in Holland has turned out world-class yachts, now they're diversifying.

The company factory will now not only turn out yachts, but also wind energy products under the name Energetx Composites.

Energetx plans to invest $37 million to ramp up production of utility scale wind turbine blades and other parts for the wind energy industry. The project is expected to create more than 1,000 jobs at Energetx, and on top of that, the Michigan Economic Development Corporation estimates that the increased economic activity will create more than 1,500 other jobs indirectly.

Energetx will get a tax credit worth $27 million over 15 years to help them accomplish their goals. All of which is good news for a company which has had to let go of hundreds of workers in recent years.

"Well, certainly some of those people will have an opportunity to come back, the skill set will determine who is and who is not able to come back," said David Slikkers CEO for Energetx and Tiara Yachts. "We will begin the hiring process here through the fall of 2009."

Integrated Fabric Resource is another company in the Holland area with good news. The company is based in Zeeland and produces packaging products servicing the auto industry. It plans to invest $3.7 million to expand in Holland Charter Township and produce flexi-tanks for shipping bulk liquids.

The project is expected to create 510 new jobs, 270 of them directly by the company, which will get a tax credit worth $3.1 million over 12 years to get it done.

If all goes as planned, the two companies could bring more than 3,000 jobs to the Holland area.