Cockwells Modern & Classic Boatbuilding is set to double capacity and create 38 new jobs after securing £1.88m investment.
The funding, from the Cornwall and Isles of Scilly Good Growth Programme, is part of a £2.9m project by the Cornish boatbuilder to expand its South West Shipyard operation near Falmouth.
Cockwells specialises in high-end custom yachts, superyacht tenders and motor launches, including the Duchy and Hardy brands.
The company employs more than 140 people and has an order book that reaches into 2025.
It was recently announced that Pendennis Shipyard had acquired a majority stake in Cockwells, cementing a history of collaboration with Cockwells providing bespoke tenders for Pendennis’ superyachts.
With the new investment, the boatbuilder will modernise its two fit-out halls at nearby Ponsharden, doubling production capacity and reducing customer delivery time to less than 12 months.
The improvements will include upgraded workspace with reception, stores and offices, a new joinery shop and large-scale paint booth. Investment in solar power, geothermal heating and planting 80 trees on site will reduce carbon dioxide emissions by some 26,000 tonnes.
Job creation
The project will also enable manufacture its new Duchy 45 motor yacht on the site from this year, creating 25 jobs.
The expansion is expected to create 38 jobs in total over three years and double Cockwells’ annual spend with local suppliers to £3m.
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.
“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 UK and globally,” said Dave Cockwell, Cockwells’ founder.
“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.”
Good Growth Programme is a £137m local investment fund managed by Cornwall Council and funded by the Government’s UK Shared Prosperity Fund.
