NAMJet, a manufacturer of marine propulsion systems -- think boat motors -- and Denver announced that the company will relocate both its headquarters and manufacturing operations from Arkansas to a 50,000-square-foot facility at 4959 Kingston St. in northeast Denver. The move is predicated by a $250 million contract with the U.S. Army for nearly 400 Bridge Erecting Boats (BEBs).
The relocation will create about 63 jobs in Denver as well as a $4 million capital investment from the company.
Under the new contract New Orleans-based Bidron Americas, a sister company to NAMJet, and fellow subsidiary of Australia's Bidron, the companies will replace the entire fleet of BEBs for the Army in coming years. The new BEBs are 23-foot boats powered by dual 250-horsepower (hp) Cummins engines mated to NAMJet Traktor Jet 381 HH’s.
"Denver is well known for its thriving tourism sector and quality of life, but it is also emerging as a global leader in manufacturing and export operations," said Jim Ducker, General Manager at NAMJet. "The city's exceptional labor force and business-friendly environment provide us unparalleled opportunities for growth, and we've been welcomed with open arms by the entire community."
"Denver is growing as a manufacturing hub for high-growth industries," Denver Mayor Michael Hancock said. Denver's Office of Economic Development (OED) is supporting the company's move with incentives including a reimbursement for its corporate relocation and start-up expenses through the city's Business Incentive Fund. Denver's Business Investment Program will provide business personal property tax credits. The firm will make an estimated capital investment of $4 million at its 50,000-square foot leased site at in northeast Denver.
The BEBs usually provide propulsion and maneuverable thrust to support temporary floating bridges but are also used in ferry configurations to transport equipment supplies and troops, and to tow other BEBs, according to NAMJet. The vessels are transportable via road, rail and air, and are often used when existing bridge crossings have been destroyed in military conflict or other events like flooding.
Contact Confluence Denver Innovation & Jobs News Editor Chris Meehan with tips and leads for future stories at chris@confluence-denver.com.
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