Strategy for economic growth

The newly-formed Department of Economic Development is today (Monday) announcing several key appointments, and a new strategy aimed at generating business and growth.

A chief operating officer and a director of business development have been put in place.

There is to be more emphasis on promoting the Isle of Man as an international business centre, and greater effort will be made to market it in areas where prospects for new business are good.

In another new initiative, business leaders will form an international network to represent the Island abroad.

At the core of the department is a new Business Development Agency, spanning both financial and non-financial sectors, which will be headed by Tim Craine, the current director for e-business and space.

Mark Kelly will drive performance across the department, as chief operating officer.

A third key appointment, that of a marketing director to co-ordinate efforts across government to promote the Island's offering, will be announced soon.

Chief executive officer Colin Kniveton says the changes will focus efforts on the challenge the department was set up to meet, namely generating economic growth in the Island.

Minister for Economic Development Allan Bell says he is confident the changes will drive up the Isle of Man's economic growth.