We are always encouraged and energised whenever we receive news of new investment in Jamaica. But when that investment is being made by one of our own, the sense of anticipation is even greater.

There is something deeply heartening about a Jamaican who has made his mark abroad deciding to bring his enterprise, expertise, and ambition home.

That swell of excitement accompanied our publication last Wednesday of the plans by Jamaican American businessman Mr Denton Douglas to establish a yacht-building and repair facility in Jamaica.

Mr Douglas, a St Elizabeth native and Munro College graduate who received a track scholarship to Howard University in 1988, has travelled an impressive road from Wall Street to the boating industry.

After two decades in that business, he now operates Monarch Yachts, a Florida-headquartered company that began in China and currently has two plants in Turkey.

His decision to establish a facility in Jamaica, with an initial investment of US$25 million, represents a considerable vote of confidence in Jamaica, its people, and its potential.

We commend Mr Douglas for his enterprise and commitment to his homeland. He has built a business in a highly specialised global industry and, rather than keeping the benefits of that success overseas, is seeking to bring a significant part of the operation home. That deserves our respect and support.

Mr Douglas tells us that he has already engaged the Ministry of Industry, Investment, and Commerce and Jamaica Promotions Corporation, which are assisting with his application for special economic zone designation.

This is precisely the kind of facilitation investors need. Government must continue to remove unnecessary obstacles, move applications expeditiously, and ensure that the regulatory and physical infrastructure is ready to accommodate serious investors.

Investment does not flourish on promises alone. It requires a Government that understands that investors have choices, and that time, efficiency, and predictability matter. In this instance, the signs are encouraging that the authorities understand what is at stake.

Yacht-building is not simply about constructing expensive vessels for the world’s wealthy. It is a sophisticated manufacturing enterprise encompassing design, engineering, fabrication, electronics, marine systems, finishing, logistics, brokerage, chartering, refitting, and repairs. It creates opportunities for highly trained technicians, welders, electricians, carpenters, marine engineers, designers, mechanics, and a wide range of other specialists.

The prospect of Jamaicans being trained overseas, alongside training provided through Caribbean Maritime University, means this investment could help develop a pool of highly skilled workers whose expertise, as Mr Denton so correctly noted, will have value well beyond Monarch Yachts. Such skills can strengthen Jamaica’s wider maritime and industrial capabilities.

The global numbers demonstrate why Jamaica should be eager to claim a place in this market. A Deloitte and Vrije Universiteit Amsterdam study found that the super yacht industry generated approximately €54 billion in total economic output in 2022, placing it among the world’s most consequential high-value maritime manufacturing ecosystems. The wider shipbuilding market is also projected to continue expanding, generating substantial economic activity. Jamaica, therefore, cannot afford to stand on the shoreline watching others capture the opportunities.

Mr Douglas himself has made a compelling case for why Jamaica is well placed to compete. The island’s proximity to the United States, where many of his customers are based, can significantly reduce transportation costs and make it possible for clients to travel from the US, inspect a yacht under construction and return home in a single day. For a 45-foot vessel, he estimates that building in Jamaica could save tens of thousands of dollars in transportation costs compared with shipping from Turkey or China.

Those are not minor advantages. They are the foundations upon which a competitive Jamaican maritime manufacturing niche can be built.

If we are serious about transforming the economy and moving more Jamaicans into high-value, high-skilled employment, then this is precisely the kind of investment we should be pursuing.

Jamaica has long celebrated its ability to punch above its weight. Here is another opportunity to do so — this time on the high seas.

Let us grab it.