In a significant boost to the South West's marine industry, Plymouth-based luxury yacht manufacturer Princess Yachts has announced ambitious expansion plans that will create 120 new jobs in the region.
The prestigious boatbuilder, renowned for crafting some of the world's most exquisite vessels, is set to establish a new manufacturing facility that will substantially increase its production capacity. This strategic move comes as the company experiences growing international demand for its luxury yachts.
The expansion represents a major vote of confidence in both the British marine sector and the Plymouth economy, reinforcing the city's position as a global hub for boatbuilding excellence. The new jobs will span various skill levels and disciplines, providing valuable employment opportunities for local residents.
Company executives have expressed excitement about the growth prospects, noting that the investment will enable Princess Yachts to meet increasing order books and explore new market opportunities. The expansion is expected to enhance the company's competitive edge in the global luxury marine market.
This development comes as welcome news for the regional economy, demonstrating the continued strength and potential of Britain's high-end manufacturing sector despite broader economic challenges. The marine industry has long been a cornerstone of Plymouth's economic identity, and this investment ensures its legacy continues.
Local business leaders and economic development officials have welcomed the announcement, highlighting the positive ripple effects such expansion will have on supply chains and related businesses throughout the South West.
