The Isle of Wight Economic Partnership (IWEP)and the South East England Development Agency (SEEDA) have been working with Palmer Johnson since 2006 and the Cowes Waterfront partners have planning permission for a temporary production facility at Venture Quays, best known for its giant Union Flag hangar.

The move is part of a European expansion for Palmer Johnson that will see the company produce 120ft+ Superyachts at East Cowes. ‘Cowes Harbour is considered a prestigious location in the yachting world,’ said a company spokesman. ‘In our area of luxury yachts, image and quality are major selling points. The Isle of Wight also gives us excellent connections to our growing European customer base.’

The company also feels it will be able to recruit the right workforce, possibly attracting skilled workers back to the Island.

Managing director of the economic partnership Mike King said: ‘This is really exciting and shows how projects like Cowes Waterfront, combined with the growing awareness of the Island as a business destination, brings new opportunities.’

Having Palmer Johnson here in East Cowes will certainly raise the profile of the whole Island with important clients visiting to view progress on their new yachts, King told the Isle of Wight County Press.

To support the move, the partnership will shortly organise a recruitment open day, initially for skilled aluminium welders and those in the fit-out trades. Those interested in registering an interest can contact Matthew Hill on 01893 550300.