Sailboat company Morris Yachts in Bar Harbor received the Boat of the Year Award from Cruising World Magazine on Tuesday.
It's the sixth time in the company's history.
Governor John Baldacci presented the family-owned business with the honor.
"It's an important award to recognize the talent we have in our state, to be recognized throughout the world as our quality state," the Governor said.
Maine's boating industry has been greatly impacted by the recession, and Morris Yachts is no exception. Brian Stan has been working for the company for 16 years and says the past year has been a tough one.
"We've had our ups and downs but this is probably the biggest dive I've seen," he said.
The owners hope the award will bring a boost to business. A recent reduction in sales tax is also expected to help the boating industry, making Maine more competitive with other boat building states.
Morris Yachts has also partnered with the U.S. Coast Guard to build training boats that will bring in up to 25 new jobs.
"There's always going to be a demand and getting an award like this means we'll survive," Stan said.
Cruising World Magazine's Boat of the Year Award is based on quality construction, sailing performance and design.
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