Hodgdon Yachts and its president Timothy Hodgdon received the 2015 Innovator of the Year award from the Maine International Trade Center.
The award ceremony took place on May 21 at the Samoset Resort in Rockland. The award is presented to a company or organization in Maine that has accessed international markets through new and innovative processes or products.
“It's an honor for us to receive the Innovator of the Year award,” Hodgdon said in a statement. “We are very proud of our reputation in the industry and our ability to deliver a variety of very complex, high-quality project requirements. Since I took over in 1984, I knew that I wanted to take the company to an increased level of quality and innovation. We’ve moved from traditional wooden-boat building to advanced composite construction. A special thanks goes to the people that work at Hodgdon for their extraordinary level of talent, ranging from design and engineering through all aspects of production.”
As one of the oldest known boatbuilders in the United States, the company has evolved and diversified in recent years, particularly under Hodgdon’s leadership. For example, the carbon fiber composite construction of the 100-foot monohull Comanche was completed in 13 months.
Part of Hodgdon’s diversification strategy has included splitting the company into five divisions: Hodgdon Yachts, Hodgdon Interiors, Hodgdon Defense Composites, Hodgdon Yacht Services and Hodgdon Custom Tenders.
The company also has expanded internationally. In 2014, it opened an office in Monaco dedicated to increasing sales of new sailing and motor yachts, custom tenders and superyacht interiors in that region.