Department welcomes findings of Space sector report

| November 8, 2012 | 0 Comments

The Department of Economic Development have welcomed the findings of a report from the Futron Corporation, a US-based aerospace consultancy, in to the Island’s Space sector which demonstrates its continued growth and success.

The latest report provides an update to their original findings from February 2011 and highlights the fact that the Isle of Man was the only jurisdiction reviewed for which ‘no negative changes in competitiveness’ were noted and that it maintains its status as a ‘niche innovator’ in the global Space sector.

Tim Craine, Director of Business Development, Department of Economic Development, said: ‘Since the last Futron study carried out in February 2011, there have been a number of exciting developments including the use of laser optics components locally manufactured by CVI Melles Griot on the Curiosity Rover which landed on Mars earlier this year. Looking ahead we hope to continue innovating in the sector and strengthening our competitive position through attracting new business to the Island and widening the scope of activity.’

Alex Downie OBE MLC, Political Member for the Department of Economic Development with responsibility for space, added: ‘The latest findings from the Futron study highlight the continued growth and success of the Isle of Man’s space sector over the last 18 months. This success is testament to the unique approach we take focusing on the public/private partnership between Government and industry and reflects our status as an international business centre with a growing and diverse economy.’

Tim Craine added: ‘The report vindicates the approach that the Isle of Man Government has taken in its support of SpaceIsle and the local Space sector, predominantly by providing an excellent regulatory environment together with close co-operation with industry.’

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Category: Finance & Business

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