Chamber calls for SEZ initiatives to boost economic growth
Government needs to consider speeding up initiatives to drive economic growth if it wants to achieve the goals it’s set in ‘Our Island Plan’.
That’s the view of the Chamber of Commerce which says Special Economic Zones should be considered to help boost the Manx economy.
SEZs are designated areas which offer fiscal and regulatory incentives to business by encouraging investment, innovation and entrepreneurship.
And the chamber says there’s a type of SEZ which has been put forward to the Department for Enterprise which it’s interested in supporting.
The Biosphere Innovation Gateway – The Big Project - involves the creation of a green energy complex, accommodation, a hotel and a university for 4,500 students.
The plan has been submitted by property development and investment company The Sole Estate – a company founded by Ian James Clanton who is also known as H.M The Sole.
It says the project would be independently financed, at no cost to the taxpayer, and could be partially built by 2029.
Chamber of Commerce President Kristen McDonald says it’s got potential:
Manx Radio has invited the people behind The Big Project, and the Department for Enterprise, to comment.