The Isle of Man performed well over 2014, with growth across key sectors, according to the Minister for Economic Development, Laurence Skelly MHK. The Minister Skelly highlighted the renewed focus on regeneration and development in the Island’s town centres. The Minister is confident about the outlook for the Isle of Man’s economy in 2015.
“There is a definite drive for investment and regeneration this year. The Government owns many strategic assets which can be better utilised to support entrepreneurship by private investors and developers. For example, Expressions of Interest are currently being invited for parties interested in developing areas around Douglas Quayside. Building on recent regeneration this site offers significant opportunities for the investor.
“Developments such as these are essential for attracting new business to the Isle of Man. As the Island’s economy continues to grow and diversify, it is important to seek out growth and development opportunities to ensure a sustainable future for the Island. 2014 was a good year for the economy, with continued growth of around 3% and unemployment falling by around one quarter, and the prospects for 2015 are looking just as positive. It is very important that we continue to drive forward skills development and training on the Island as well as creating more jobs in our established sectors and industries such as manufacturing and financial services.
“We are also increasing our capabilities to engage with businesses from overseas and the UK regions. We have been particularly successful in engaging with China and closer to home with the North of England, Northern Ireland and Scotland.
“We are undertaking significantly increased promotional activity this year on the advantages of doing business with the Isle of Man and are committed to maintaining our status as an International Business Centre in the heart of the British Isles.”