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The marine sector will double in size during the next ten years, supported by a new hub for building super yachts, say industry members.
Marine Industry Association executive director Peter Busfield said the sector employed more than 10,000 people, 550 apprentices and was looking to double turnover to $3.4 billion during the next 10 to 12 years.
"That's actually a slow down on our current growth rates so people say, 'How can you say you're going to double?', but it's actually quite conservative."
New Zealand had a chance to expand its share of the global marine market, which was now less than 2 per cent, he said.
"So whilst we think were pretty big in New Zealand we're actually very small in international scale."
He said the industry had benefited from greater involvement from experienced businessmen, bringing a stronger focus on return on investment, margins, distribution, sales and marketing.
The sector relied on events like the America's Cup to provide a profile that could not be bought, with a full page advert in a European boating magazine costing about $20,000.
"Just like the Swiss are known for watches or French to champagne, in marine terms ... if you're buying a boat, 'Oh you're buying it from New Zealand, wow you're going for the best'."
Building the best is the aim of a new marine precinct and super-yacht industry hub being developed at Hobsonville.
The site received a boost yesterday with $2 millon of Government funding towards equipment for lifting large boats in and out of the water.
Economic Development Minister Trevor Mallard said the site would help the industry grow exports currently worth $535 million annually.
"The project represents a unique opportunity to establish a competitive marine cluster that will ensure the continued growth of New Zealand's marine industry, a worthy goal considering our focus on creating more internationally competitive firms," Mallard said.
Waitakere City Councillor Penny Hulse said the idea for the super-yacht hub started about seven or eight years ago when the council found out the Government planned to close an airbase.
Marine activity was already taking place on the site but the council bought 15 ha of land to boost the cluster with a more integrated approach.
The $2 million Government contribution was a good start, Hulse said.
"It's Government saying, 'We're giving this our seal of approval basically, we see that this is a critical piece of economic infrastructure for the Auckland region'," she said.
However, Busfield said the sector did face some uncertainties.
"We're delighted with the Hobsonville development but hand in hand with that is the Wynyard Point and Westhaven area. There's a zoning proposal on the table now from Auckland City Council and [Auckland Regional Council]," Busfield said. The association wanted to ensure the area would be used for marine, boat building and re-fit activity.
Under the plan, boats built in Waitakere would be brought down to Westhaven and Wynyard Point for the commissioning of systems, building of masts and sea trials.
"We've got 110 companies in that area - it's the largest cluster of that type of marine companies in the world," Busfield said.
Marine sector
* Employs more than 10,000 people.
* More than 550 apprentices.
* $3.4 billion turnover in 10-12 years time.
* Less than 2pc of global marine market.
