Smith: After recession, hope floats in boat industry

Minnesota's love affair with boats -- on the rocks in recent years because of the recession -- appears to be on the mend.

While overall boat registrations have fallen since 2008, the state remains No. 2 in the nation with more than 809,000, behind only Florida. Perhaps more telling, registration of new boats in the state has increased from 11,000 in 2009 to 16,000 in 2010 and 20,000 last year.

"It was rough going for a few years, but last year was good for us," said Jake Jacobson, general manager of Rapid Marine Group, one of the largest marine businesses in the state. "I'm expecting good things this year."

Jacobson's company recently opened a fourth large store in Rogers -- a rare expansion after the industry saw dealerships collapse and consolidate.

"There's fewer dealers now," Jacobson said, "but the strong ones have survived."

And two years after eight Twin Cities boat dealers, including Jacobson's, pulled out of the big Minneapolis Boat Show in the wake of the recession, they'll be back when the show opens Thursday at the Minneapolis Convention Center.

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