Manx E-Gaming Sector Island's 2014 Success Story
by Jason Gorringe, Lowtax.net, London
14 January, 2015
The Isle of Man is confident about strong growth prospects for 2015, with the island's niche industries performing strongly.
Figures for 2014 show that e-Business is the island's fastest-growing sector, with over 100 additional jobs created in 2014 and further growth expected in 2015.
The island's Minister for Economic Development, Laurence Skelly, said: 'We have had further good news in this sector recently with Microgaming receiving planning approval for expanding its headquarters in Douglas [the Manx capital], which will see it create many further jobs and also provide a well over GBP10m (USD15.2m) boost for the local construction sector."
He added that "a formal agreement has now been made with the Government which commits ICT Limited to purchase the Nunnery site and develop it into a world-class IT training centre. These initiatives will boost our plans to continue to grow the island's e-Business sector."
Skelly also highlighted the Government's efforts to secure increased inward investment for the island and to boost its tourism industry. He said: "We are seeing real growth across our export-generating sectors, and I believe that in 2015 local people will start to see the benefits of increased confidence in the local economy through increased earnings and further creation of new jobs."
The Manx economy continued to grow throughout the financial crisis, despite downturns elsewhere and especially in Europe, due to its diverse economy, which is now being expanded upon through the island's Vision2020 strategy. As well as its traditional financial services offerings, the island also offers aircraft and ship registration.
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