Cockwells receives £1.88m Good Growth investment to double capacity and create jobs in Cornwall

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Cockwells Modern & Classic Boatbuilding is set to double its manufacturing capacity and create 38 new jobs having secured £1.88m from the Cornwall and Isles of Scilly Good Growth Programme, which is managed by Cornwall Council.

 This Good Growth investment will contribute significantly to the Cornish company’s £2.9m project to expand its South West Shipyard operation at Ponsharden, between Falmouth and Penryn.

 Cockwells specialises in high-end custom yachts, superyacht tenders and motor launches, including the renowned Duchy and Hardy brands, for a discerning global customer base. It employs more than 140 people and its order book reaches well into 2025.

 Last month, it was announced that Pendennis Shipyard had acquired a majority stake in the company, cementing a history of Cockwells designing and building bespoke tenders for Pendennis superyachts in a uniquely Cornish collaboration.

 Thanks to this Good Growth investment, Cockwells, which is headquartered at Mylor Bridge, will modernise its two fit-out halls at nearby Ponsharden, doubling production capability and reducing customer delivery time to less than 12 months.

 This project will also enable Cockwells to commence manufacturing the latest model in its ever-popular range of Duchy Motor Launches – the new Duchy 45 – at Ponsharden from this year, which will result in the creation of 25 new jobs. In total, the company’s expansion that is facilitated by this Good Growth investment is expected to create 38 jobs over three years and double Cockwells’ annual spend with local suppliers to £3m.

 The company’s enhanced facility at Ponsharden will include upgraded workspace with reception, stores and offices, a new joinery shop and a large-scale paint booth. In line with Good Growth principles, investment in solar power, geothermal heating and the planting of 80 trees on site will reduce carbon dioxide emissions by some 26,000 tonnes.

 Cockwells has also established a high quality training academy in partnership with the Cornwall Marine Network to boost industry skills in Cornwall and the Isles of Scilly, to further expand the boatbuilding apprenticeship scheme that it launched last year.

 Cockwells’ Founder, Dave Cockwell, said: “This Good Growth investment means that we can build more boats simultaneously and with a faster delivery time, which will open up new markets for our Duchy and Hardy brands both in the UK and across the globe. It will also enable us to cut our carbon footprint significantly and create a more attractive working environment for our fast-growing team, while continuing to invest in teaching new skills, nurturing talent in the marine sector and supporting Cornish suppliers.”

 Councillor Louis Gardner, Cornwall Council portfolio holder for the 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 for Cornwall and the wider UK. It will also generate considerable additional spending in the local supply chain, return the Good Growth investment many times over and contribute 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 UK Shared Prosperity Fund. Support for local businesses is a key plank of the investment programme, increasing trade and investment while inspiring green and socially responsible enterprise.