In June of last year we reported about a new three-seater amphibious vehicle being developed in the UK called the Gibbs Aquada (pictured). The vehicle has been in the works for more ten years and has so far run up a bill of more than $100 million to develop, but soon its creators will finally be able to start earning a return on their investments. The company behind the Aquada, Gibbs Technologies (named after one of the car’s creators - New Zealander Alan Gibbs), is preparing to open its new North America headquarters in Auburn Hills, Detroit, and plans to sell its first models by next year.

The project will create 250 jobs over the next five years as well as spawn an additional 270 jobs at supplier firms and area businesses, reports The Detroit News. The decision to move to Detroit was because of the city’s infrastructure and talent, explained Gibbs Technologies CEO Neil Jenkins.

Gibbs Technologies’ first model will be the Aquada, which is still in prototype form. It will go on sale next year in North America and is expected to cost around $85,000. It has a top speed of 110mph on the road and 40mph on the water and at one point it held the world record for crossing the English Channel.

The company is also planning to build the Quadski, an amphibious ATV built around a jet-ski that Gibbs plans to sell to the military. In addition to the new headquarters, Gibbs is also looking for a new site in the U.S. to start building its first vehicles.