SAFE Boats International has signed a new three-year lease with the Port of Bremerton.

“SAFE Boats International continues to enjoy our longstanding relationship with the Port of Bremerton that dates back to 2000,” said SAFE Boats International CEO Scott Peterson. “Our current and future boat contracts ensure that our Bremerton operations will continue to be busy.”

SAFE Boats operates out of three buildings at the Port of Bremerton Industrial Park totaling 100,000 square feet and uses an additional five acres of land at the Port of Bremerton Industrial Park. The new lease covers all of that property and runs through 2015.

Rich Peterson, the port’s director of business development, said that SAFE Boat’s annual rent will go from $76,178 to $498,254 as a result of various improvements that the port has made in recent months to the property.

In addition, as part of the new lease package, SAFE Boats has an option to give nine-month notice to consolidate its operations without penalty.

According to port officials that “worst case scenario” seems highly unlikely, though, considering that the company now has about 270 employees and has announced plans to take that total to 300 or so by the end of the year.

Just last month the company announced a $35 million contract with the U.S. Navy to build up to six MK VI Patrol Boats. That manufacturing will take place in a 22,000 square foot Commencement Bay facility on Port of Tacoma property. The Navy boats, at 78 feet in length, are too big to transport on the road so water access was required for construction. All of SAFE Boats other manufacturing, meanwhile, will remain in Bremerton.

SAFE Boats offers a wide range of craft ranging in length from 18 to 80 feet that are configurable to a wide variety of pleasure, commercial, law enforcement, fire and military requirements together with the training and service to support them. There are currently 1,600 boats in service in more than 50 countries around the world. The company boasts over four million cumulative operating hours of its boats without a single hull failure.