Cornish boatbuilder Cockwells is set to create 38 new jobs over the next three years after securing a £1.88m investment. The Mylor Bridge-headquartered company will use the cash injection to expand its South West shipyard operation at Ponsharden, between Falmouth and Penryn.
The funding has come from the Cornwall and Isles of Scilly Good Growth Programme, which is managed by Cornwall Council.
Cockwells specialises in high-end custom yachts, superyacht tenders and motor launches, including the Duchy and Hardy brands. It employs more than 140 people and has a global customer base.
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The investment will be used to modernise its two fit-out halls at Ponsharden and will enable the business to manufacture its new Duchy 45 motor yacht on the site from this year. In total, the expansion is expected to double Cockwells’ annual spend with local suppliers to £3m.
The improvements include upgraded workspace with reception, stores and offices, a new joinery shop and large-scale paint booth.
Cockwells is also creating a training academy in partnership with the Cornwall Marine Network to boost industry skills in Cornwall and Scilly, building on its boatbuilding apprenticeship scheme launched last year.
Cockwells’ founder Dave Cockwell said: “Good Growth investment means we can build more boats simultaneously and with a faster delivery time, opening up new markets for our Duchy and Hardy brands both in the 海角视频 and globally. We will be cutting our carbon footprint significantly and creating a more attractive working environment for our fast-growing team, while continuing to invest in nurturing new skills, talent and suppliers in Cornwall.”
Last month, Pendennis Shipyard acquired a majority stake in Cockwells, cementing a history of collaboration with Cockwells providing bespoke tenders for Pendennis' superyachts.
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Cllr Louis Gardner, Cornwall Council portfolio holder for economy, said: “This is the latest direct investment by the Good Growth programme in a high-quality Cornish business that will boost productivity and create skilled jobs in an important sector. It will also generate considerable additional spending in the local supply chain, returning our investment many times over and contributing significantly to the local economy."
The Cornwall and Isles of Scilly Good Growth Programme is a £137m local investment fund managed by Cornwall Council and funded by the Government’s 海角视频 Shared Prosperity Fund.