Princess Yachts receive Government backing for new development site
Princess Yachts have received Government backing for development plans to create a world leading boat building facility.
Having first gained approval from Plymouth City Council last year, Princess Yachts International has since acquired funding from the Government’s Regional Growth Fund (RGF) for the investment into Plymouth’s Devonport dockyard.
Chris Gates, MD of Princess Yachts has said: “I am delighted that the Government has decided to back our investment in a new production facility to meet the global demand for larger vessels. This recognises the fantastic work being achieved by our company as it competes on a global stage from its Plymouth base. We are extremely grateful for the local support given to us during the application process, including our local MP’s, the leaders of the Council and the numerous business and community leaders, all of whom clearly recognise the significant contribution we bring to the City of Plymouth as a strong local employer."
It is intended that the new boat building facility will be operational by early 2013, and hopes to secure an extra 1,000 jobs.
