Memorandum of Understanding signed with Foster City

| April 3, 2014 | 0 Comments

The Department of Economic Development has signed a Memorandum of Understanding (MOU) with Foster City, which is near ‘Silicon Valley’, California, USA.

Minister for Economic Development John Shimmin MHK commented:

‘With Foster City being home to a number of well-known global corporations in the software, financial services and biotech sectors, I am hopeful that this association with Foster City will help forge productive relationships for businesses in the Isle of Man. Our ability to deliver Vision2020 will depend on our ability to perform well in these sectors so this MOU is welcomed.

‘The Department has enjoyed links with Foster City for some time and hosted a Clean Tech Roadshow there in 2012. This attracted great deal of interest in the Isle of Man, particularly in regard to TT Zero and the manufacture of clean vehicle technologies.

‘This Memorandum of Understanding (MOU) between the Department and Foster City will enable us to develop and strengthen economic, trade and technical co-operation between the Isle of Man and this important city.’

Mayor of Foster City Charlie Bronitsky said:

‘We are very excited about our agreement with the Isle of Man as it demonstrates Foster City’s commitment to looking outside the box for ways to make Foster City the premier place of the Peninsula to live, work and play.

‘The Memorandum of Understanding between Foster City and the Isle of Man demonstrates Foster City’s commitment to sustainability – environmentally, economically and socially – along with its associated outreach to key partners such as businesses, schools and community groups that are key to long-term sustainable success.’

Minister Shimmin continued:

‘I’m also grateful to the Isle of Man Grand Challenge winners Owen Cutajar and Andrew Gleave for meeting with Jim Hardy, City Manager for Foster City in California and Joanne M. Bohigian, CEO of the Foster City Chamber of Commerce, while they were in the region attending the Singularity University Executive Programme, their prize for winning the Challenge.’

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Category: Economy, Finance & Business

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