Albin Factory Shutdown - Part Two

[Cape Codder]

The "rest of the story"
This happened back in 1993. The State of Rhode Island repealed sales tax on boats manufactured in, and kept in RI.
This was a huge boost to the RI boating industry.
Several manufactures moved their manufacturing into RI, including Albin Yachts, with offices in Cos Cob, CT.

In 2006, Hunt Yachts Inc., citing a 40 percent annual increase in sales for the previous three years and a need for more manufacturing room, moved its factory and sales office to Melville from South Dartmouth, Mass.

This reason is why Standish Boat Yard faired so well, in spite of its limited space. They were situated close enough to bring customers right to the manufacturing facility, and if you bought and kept the boat in RI, no sales tax! That could be a $6K-$15K savings. Plus Albin are perfect for New England waters. Unfortunately, this was Standish Boat Yards only line of new boats. A really tough situation for a great group of folks.

But alas, even with this tax advantage, it appears other financial/business challenges were mounting for Albin. We all know the short term outcome was to close the doors.
Now, we really are waiting for "the rest of the story".

[DougSea]

This may be a good time to remind everyone that you can use Google to search our site.
Start Google. In the search box type:
site:albinowners.net <search term>

site:albinowners.net yanmar

Try it.

Thanks,

That's cool. I didn't know about that one.

And thanks Gery for posting "the rest of the story".

[d-jmeyer]

This article features an interview w/ Peters about the closing of Albin.
http://www.eastbayri.com/story/291028801564853.php

[RicM]

That explains a lot of things. I had no idea that they owned all that land. That is extremely valuable real estate at this point and building boats on it is really a waste of money. I'll bet the name & the molds sell and the whole thing moves to North Carolina. There is a big boat building area there now. Manufacturing space is cheap and so is labor.