In 2010, Taiwan’s yacht manufacturing exports for mega yacht 80-foot and longer ranked 7th in the world, and is also the largest yacht producer in Asia. Currently, Taiwan has 35 yacht manufacturers, of which 19 companies (60%) are located in the Kaohsiung area, accounting for about 80% of the country’s yacht output value. According to E-Composites company’s forecast, the global yacht market will maintain an average annual growth rate of 7% from 2005 to 2010. To strengthen Taiwan’s yacht industry competitiveness, the Council for Economic Planning and Development considered the Kaohsiung’s development advantages for the yacht industry, and listed the yacht manufacturing industry as one of the new core industries in the “Love-Taiwan 12 Major Construction Projects: Program for Integration of Kaohsiung Port and City.” In 2010, Kaohsiung city selected the Nanxing Project as the site for yacht industry developments, integrating yacht manufacturing, hardware parts production, and logistics to form a streamlined industrial cluster and improve its competitive edge. The project will help the industry to move towards larger scale yachts and higher value-added luxury yachts, making this the "Asia’s Luxury Yacht Manufacturing Center." The project site is located on the south side of the Nansing Project area, with a total of 113.10 hectares planned as the yacht manufacturing zone. The site will consist of five different areas according to their different functions of yacht manufacturing, yacht testing, related industry, administrative services, and parks. Using a holistic planning approach and integrating the yacht manufacturing clusters, the project will help strengthen Taiwan’s yacht industry competiveness. The Kaohsiung City Government will head the development project and follow the "Statute For Industrial Innovation," commissioning public and private entities to run the Nansing Yacht industry development plan. This will save the government 5.19 billion NTD, and acquire 25.01 hectares of land for public facilities at no cost. The first phase of the project is expected to be completed by the end of December 2013, while the second phase is expected to be completed by the end of December 2015. The future development outcomes are expected to bring in 5 billion NTD of investment, produce output value up to 100 billion NTD, and create over 4,000 jobs.