Metal Shark Boats plans a $1.9 million capital investment that will allow the manufacturer to complete a contract to build 500 Response Boat-Small patrol vessels for the U.S. Coast Guard over the next seven years, creating 106 new jobs in Jeanerette, Iberia Parish, Louisiana.

According to company officials the investment will also create an estimated 164 indirect jobs and provide work for the firm's 75 current employees.

"Metal Shark is excited to be working with Louisiana Economic Development in creating a program that will help grow our company, create new jobs for the community, and help further our goal of providing the best possible product to our customers," said Matthew Unger, chief operating officer and vice president of Metal Shark Boats.

The state began working with Metal Shark on the project in early 2011 and will provide the company with the services of Louisiana Economic Development FastStart, the state workforce development program. Metal Shark also is expected to utilize Louisiana's Industrial Tax Exemption and Quality Jobs incentive programs.

Metal Shark Boasts, located at 6816 East Admiral Doyle Drive in Jeanerette, will produce the second generation of a 29-foot-long vessel that has a top speed in excess of 50 mph. The boats will be used for port, waterway and coastal security, as well as for search and rescue missions, drug interdiction cases, immigration-related operations, fisheries enforcement and law enforcement missions.

Gov. Bobby Jindal said, "Metal Shark is another outstanding example of Louisiana-based companies that are meeting the rigorous demands of military customers like the U.S. Coast Guard while providing great new jobs for our people. Metal Shark's work for the Coast Guard continues our state's long history of helping the military protect the nation's interests. We should take great pride in knowing that the hardworking men and women of Louisiana are building the tools our military uses to protect the homeland."

Metal Shark won a $192 million U.S. Coast Guard contract in November to build the Response Boat-Small, watercraft adopted by the Coast Guard in response to its broader homeland security mission after the Sept. 11, 2001, terrorism attacks. Once the expansion is completed, and full production is achieved, the facility will produce one boat every four or five days. The company also is building other boat classes for the U.S. Coast Guard, U.S. Navy, local law enforcement agencies and foreign militaries.