Consultants Forum Advertise
Subscribe
Close

  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Subscribe Now
Renew

Area Development - Site Selection, Facility Planning and Workforce Development

Seakeeper Relocates Headquarters to Mohnton, Pennsylvania

03/27/2020
Seakeeper, a nautical gyroscope manufacturer, will invest more than $11 million to expand operations and locate its headquarters Mohnton, Pennsylvania.

The company is a global leader in marine stabilization, state officials noted. Their innovative technology changes the boating experience by eliminating up to 95 percent of boat roll, the rocking motion that causes seasickness, fatigue, and anxiety.

According to Governor Tom Wolf’s Office, as part of Seakeeper’s expansion and relocation efforts, the company will renovate its existing campus in Berks County and acquire an adjacent building, increasing its operational space to seven buildings and 180,000 square feet. The expansion will create 97 new full-time jobs and retain 97 existing jobs.

“We are extremely grateful to have found our home here in Berks County, and thankful for the support of the Governor’s Action Team,” said Seakeeper President and CEO Andrew Semprevivio. “We have incredibly passionate and hardworking employees and we’re in a town and state governed by leaders who recognize innovation and support growing local businesses. This community is our family.”

Seakeeper received a funding proposal from the Department of Community and Economic Development for the project. The proposal includes a $400,000 Pennsylvania First grant, $291,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs, and a $66,000 workforce development grant to help the company train workers. The company was also encouraged to apply for a $2.4 million loan through the Pennsylvania Industrial Development Authority. The project was coordinated by the Governor’s Action Team.

“Just as boats need gyroscopes, businesses need guidance to stabilize and optimize their operations,” said Governor Wolf. “Seakeeper’s decision to move its headquarters to Pennsylvania signals that we offer the support needed for businesses to have a competitive advantage and see a future in the commonwealth.”

“Greater Reading knows the power that comes from supporting the expansion and growth of our existing businesses,” said Greater Reading Chamber Alliance Executive Vice President and COO Pamela Shupp. “Companies like Seakeeper are important economic engines for our community and garnering state support for these expansions is critically important.”

Share

Exclusive Research