Marga Prohens, President of the Government of the Balearic Islands, and Juan Manuel Lafuente, Minister of Maritime Affairs and the Water Cycle, today visited the facilities of STP Shipyard Palma, the largest superyacht refit & repair yard in the Mediterranean. They were welcomed by Juan Antonio Riutor, Chairman of IPM Group; José María Campuzano, CEO of STP; and Javier Sanz, Chairman of the Balearic Port Authority.
During the visit, Ms Prohens underlined the importance of this industry as one of the main economic driving forces of the Balearic Islands, not just locally, but also in Spain and overseas.
In her speech, the President stressed that the yachting industry is a global benchmark, with a high level of competitive advantage that places the Balearic Islands at the forefront of the global industry. "It is an innovative industry, generating value, opportunities, and skilled jobs. And although it might not be common knowledge, it is key for the diversification and reduction of seasonality of our economy", said Ms Prohens.
STP Shipyard is a prime example of this top-flight industry. The yard is home to more than six hundred registered companies, employing more than three thousand workers, 95% of whom are Spanish and from the Balearic Islands. The president also highlighted the industry's ability to create direct and indirect jobs, noting that for every hundred metres allocated to this industry, 2.6 new companies and 12.5 new direct jobs are created.
In this context, Juan Antonio Riutor and José María Campuzano expressed their gratitude for the visit, highlighting that "collaboration between the private sector and public institutions is key to the further promotion of such a strategic industry for our community. At STP Shipyard, we are committed to innovation and sustainability, with a view to continuing as a global benchmark. We appreciate the support of the Government of the Balearic Islands, which is essential to boosting our capacity and contributing to the region’s economic and social growth".
Ms Prohens also stressed the importance of STP Shipyard Palma in the Balearic economy, recalling that the yachting industry generated EUR 1.1bn in the Balearic Islands last year, with a turnover of EUR 460m from the refit & repair business at Moll Vell.
"STP is not just a benchmark for its state-of-the-art technology, but also for its open management model, which helps create a thriving and dynamic business ecosystem. This high-volume project has a positive and long-lasting impact on our economy and job creation", Ms Prohens added.
At the end of her visit, Marga Prohens expressed her satisfaction and excitement for the growth and importance of this industry in the region, highlighting the key role of STP Shipyard Palma in boosting the Mediterranean yachting industry.
