Gwynedd Council will invest more than £5 million in Pwllheli Marina.
They will invest £5.4 million over the next 10 years to enable Hafan Pwllheli's marina provision to continue to benefit the local economy.
Cllr Nia Jeffreys, Economy and Community Cabinet Member said: "Hafan Pwllheli brings more than £3 million of economic benefit to the Pwllheli area annually and supports more than 50 full-time, high-value jobs. Without a doubt, spending to keep the provision up to the expected standard is value for money, and particularly important for the local economy in the Dwyfor area.
"With the number of annual customers having increased since 2019 the future bodes well for the Hafan. Indeed, Hafan staff tell me there is a waiting list of more than 200 for a space in the marina itself and 94 per cent of the Outer Harbour berths are full."
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The harbour mouth, channel and inner harbour at Pwllheli are silting and filling with mud as a result of natural processes, so the council has earmarked a portion of the £5.4 million on dredging the harbour.
Another portion of the money is earmarked for the renovation of pontoons that have reached the end of their lifespan. In other parts of the country boats have been significantly damaged during storms due to deficiencies in resources.
Cllr Jeffreys added: "Hafan's main structures, namely the pontoons and poles, have passed their design lifespan and without this investment to maintain standards over the next ten years, there is a risk that we will not keep up with the market and customers would leave.
“This would be a devastating blow to the economy of the Pwllheli area with jobs that rely on the marine and wider visitor industry at risk.
"The reality also is that Cyngor Gwynedd is making a profit from the marina – during 2023/24, £700,000 was raised. Generating income through fees is a key part of our financial strategy and protects vital services the people of Gwynedd rely on from being cut even further.
"We recognise the importance of harbours along the Gwynedd coast, which are important to local communities and the area's economy".
This investment runs concurrently with a long-term strategy that has recently been prepared. Consultants have engaged with local stakeholders to regenerate the marina, harbour and North Quay area, and following the announcement work streams and commercial opportunities will be worked on to realise elements of the strategy.