Boating Industry Intelligence You Can Profit From
WASHINGTON — The Maine boat building industry is an example of innovation-led transformations occurring on a local scale, according to a report on innovation published this month by the National Economic Council.
“Maine boat builders have a 400-year heritage of skilled craftsmanship, but technological change was threatening to leave them behind,” the report states. “Instead, the boat builders have enthusiastically embraced cutting edge innovation in advanced composite technologies, replacing old jobs with better jobs in the same industry. Today, the Maine boat building industry produces a highly regarded product line that includes racing yachts, pleasure craft, workboats, and military vessels.”
The report points out that, as a result, wages in Maine’s boat building industry have risen 19 in percent in real terms over the last decade while employment has risen 12 percent.
To read the entire report, titled “A Strategy for American Innovation:
Driving Towards Sustainable Growth and Quality Jobs,” click here.
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