THE Superyacht Industry Development Fund is part of the Queensland government’s strategy to expand the industry and increase Queensland’s global market share by 10% by 2023.

There are six recipients of round one funding that are to share in $41,000 to assist their businesses. They include Abell Point Marina (Airlie Beach); Carter Marine Industries (Cairns); Gold Coast City Marina & Shipyard (Gold Coast); Rivergate Marina and Shipyard (Brisbane); Seaspec Marine Services (Gold Coast); and Trinity Fire Services (Cairns).

Assistant minister for tourism industry development Meaghan Scanlon said the money would help Queensland businesses secure more contracts.

“We introduced this development fund late last year to support small-and-medium-sized businesses supplying to, or with the potential to supply to, the superyacht industry,” Ms Scanlon said.

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This first round of funding is to help Queensland businesses build relationships in the global superyacht market through participation in international trade shows in Singapore, Tahiti, Monaco and Fort Lauderdale.

Superyacht Strategy champion and member for Cairns Michael Healy said the government’s efforts were crucial in promoting Queensland as a world-class Pacific destination for superyacht cruising, construction, fit-out and maintenance.

“We want Queensland to be recognised as the key superyacht hub of Asia-Pacific, and initiatives like our Superyacht Industry Development Fund will help us achieve that,” Mr Healy said.

Up to $335,000 is to be provided during the life of the Superyacht Strategy – from 2018 to 2023 – to support businesses looking to access the industry. One round of grants will be available each year.

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