October 22, 2003

Tampa Bay yard loan negotiation approved

The Tampa Tribune reports that the Tampa Port Authority voted Tuesday to negotiate a $7 million loan for an expansion at Tampa Bay Shipbuilding & Repair Co.

Joe Hartley, Tampa Bay Shipbuilding's president and chief executive officer, reportedly said the new equipment will allow the facility to undertake vessel and barge newbuilding and to add 300 employees to the 350-employee company in the next several years.

Improvements will include a new assembly line outfitted with mechanical welders. The company also plans to renovate a 500-foot-long dry dock dormant for 20 years.      

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