WYOMING, Minn. - Scores of economic indicators speak to the gradual revival of the United States economy. But things are moving a little faster at Premier Marine in Wyoming.
"We've got so many orders we don't know what to do with them right now," smiles Lori Obar, operations manager for the family run company and daughter of its founder.
Three years ago - when Premier was featured in a KARE 11 Extra - things couldn't have been much grimmer for the builder of pontoon boats.
More than half its 250 workers had been let go, while remaining workers saw their hours cut as the company fought to stay afloat.
Production dropped from 50 boats a week to 25 before the sputtering economy regained its footing and Premier roared back to life.
"It really started getting aggressive for us about last May, where we all of sudden we couldn't build enough boats to satisfy the consumer. We couldn't hire fast enough and train people fast enough to get the numbers out."
Premier has now brought back more than 80 of those lost jobs. Revenue is back to pre-recession levels and Premier is again flirting with production of 50 new boats a week.
Another 50 employees joined the company last summer when Premier acquired the assets of Minnesota pontoon builders Weeres and Palm Beach. Obar's brother now manages those lines at a factory in New Ulm.
With the acquisitions and bounce-back in sales, Obar says Premier has become the nation's fourth largest builder of pontoons, up from fifth before the recession.
"I got hired in June and we've been really, really, busy ever since," says Amy Kahle who is currently putting in six-day weeks with up to 18 hours of overtime in Premier's final assembly building in Wyoming.
Yet it was in those dark days that Premier started laying the groundwork for recovery, by improving efficiency and reinvesting in technology.
Its new models feature curvy and stylized aluminum rails in place of the squared off rails common on older boats. 'Our competition still hasn't been able to recreate something like this," says Obar proudly.
Obar says some competitors turned their focus to less expensive models, while Premier stayed true to its upscale roots. For the 2012 model year the company introduced the 'Grand Entertainer,' a $70,000 luxury pontoon that features a full-size bar, complete with bar stools and a stainless steel grille.
Obar says sales of the 'Grand Entertainer' have far exceeded projections.
"It feels awesome. We're very excited about it," says Obar, noting existing orders should keep the company just as busy for foreseeable future. "There's no end in sight for us right now."
