Purvis, Fla.-based Purvis Marine Corp. said Friday it would spend $7 billion to hire 10,000 new jobs over the next four years as it seeks to shore up its struggling fishery.
Purvis also said it would begin the hiring of new staff, as it tries to ramp up its operations after a year-long downturn.
Purves chief executive officer and chairman John Purvis said the company will hire 1,000 to 1,200 new employees in 2019.
The company also said a number of its facilities will be opened up, including its North Florida and Central Florida ports, as part of the plan.
Purveys chief financial officer, Robert Waddell, said the $1 billion investment will be a boost to the company’s financial strength.
He said the firm plans to add 200,000 employees over the four years and create jobs for at least 2,000 more.
He did not give a timeline for when the company might be able to add workers to its facilities.
Purveyors earnings fell more than 9% in the second quarter and its stock fell by about 8% in after-hours trading Friday.
Purvias shares fell about 6% to $24.90 a share in early trading Friday morning.
The stock fell more on Friday than it did at the beginning of the year after the company said it was considering restructuring.
The financial results have led some analysts to worry about the future of the company.
The New York Times recently said Purvis’s stock could be in danger of falling again, and that it may be difficult to revive the stock after the stock is up almost 70% in just three months.
The U.S. Chamber of Commerce, the nation’s largest business lobby, last week called on Congress to halt Purvees stock sale and called on the Trump administration to block the company from using federal tax breaks that would allow it to continue operating.
The White House and Trump have declined to comment on Purveas’s prospects for the future.