Luxury boat manufacturer Correct Craft is embarking on an estimated 10-year plan that involves adding about 200,000 square feet to its current headquarters in southeast Orange County.
Presently, the property at 14700 Aerospace Pkwy. consists of about 259,700 square feet.
According to recently submitted plans, the company wishes to add eight buildings, including a manned security box at the entrance, several stand-alone storage warehouses and a three-story parking garage.
In total, the full build-out equates to about 458,750 square feet. The first phase will include 58,000 square feet positioned directly behind the current standing facility.
Correct Craft is working with Maitland engineering firm SKConsortium Inc. and Orlando-based architecture firm L2 Studios.
Tommy Hagood. a principal at L2 Studios, told GrowthSpotter he and Cas Suvongse, with SKConsortium, have been working with the company on the expansion plan for about a year.
“All of those different additions have specific uses,” Hagwood said. For one, he continues, the expansion will provide more storage space for boat molds, which are used to model and mass-produce new boat designs.
Hagwood said the full build-out could prepare the company to manufacture somewhere near to 20 boats a day, or more than half of what it’s currently turning out.
On top of that, Correct Craft is weaving in design elements that may be desired from its staff members. Hagwood said the company is setting up a basketball court and several out-door function areas for employees.
“They’re planning a lot of amenities,” he said. “Things that would make them more comfortable.”
The facility lies east of Orlando International Airport and south of the BeachLine Expressway. Other companies in the area include Special Logistics Southeast and the Swedish multinational home appliance manufacturer, Electrolux.
Last year, Correct Craft purchased 60 acres just north of its headquarters for about $2.2 million. The deal pegs the company’s holdings in the International Corporate Park area to span about 198 acres.
In an email to GrowthSpotter, Correct Craft CEO Bill Yeargin said the company has grown significantly and is expected to continue growing.
“We work to be a very forward-thinking company that invests into the future because we believe the world will be very different in 10 years,” he said. “We put this expansion plan in place so that when we have outgrown our current facility, we will be ready.”
Correct Craft, a subsidiary of Nautique Boat Company, Inc., has 1,511 team members company-wide and 707 in Central Florida. Yeargin said Correct Craft generated nearly $600 million in revenue last year.
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