Reviewing Panama City's Boating Industry

By  | 

In recent years, the cost of living in Florida has skyrocketed and so has the price homeowners and business owners have to pay to keep their piece of paradise.

A recent report pointed to high tax and insurance rates, saying it's driving much of the boat industry out of the Sunshine State.

In 2005, Maverick Boat Company bought the Panama City-based Cobia Boat Company, moving its production facility first to Fort Pierce, and then to an area 30 miles east of Asheville, North Carolina.

But one industry executive says Panama City's boat industry is here to stay, all due to location.

Dean Burnett of Century Boat Company said, "We have a good bay. We have rough waters. We have a good testing background."

An executive at the Maverick Boat Company, the owners of the Cobia brand, said they initially moved the operation to Fort Pierce to be closer to their headquarters.