The Isle of Man’s Department for Enterprise has published its Department Plan for 2024-2025.
The Plan highlights key achievements over the last year and sets out how it aims to support the ongoing delivery of the objectives of both the Island Plan and Economic Strategy.
Following the approval of the 2024-2025 Island Plan Update in March, this year’s Department Plan aims to ensure focused delivery of key economic initiatives aligned to the refined strategic priorities set for the next 12 months. Commitments include the development of a national Air Services Policy, Artificial Intelligence and Sustainable Finance propositions, finalisation of the Local Economy Strategy and progressing the Destination First project.
Alongside this, the Department will be progressing further amendments to Employment Legislation, furthering support for brownfield regeneration and looking how best to achieve climate change and ESG commitments internally and for businesses.
The Plan also emphasises a focus on continued delivery of the long-term Economic Strategy and increasing the number of employment opportunities available in the Island. Aligned to the Executive Agency Annual Programmes, published in January 2024, the headline target is to support 800 new jobs to be created and filled across the economy over the course of the year, supported by the work of Locate Isle of Man and Enterprise Support.
Tim Johnston MHK (pictured), Minister for Enterprise commented: “The 2024 Department Plan brings together each of the plans and programmes of the Executive Agencies and wider divisions of the Department, and sets out a number of key priorities which will be the focus for the next year to ensure we are making tangible progress towards the priorities of the Island Plan and Economic Strategy.
“The targets, whilst ambitious, aim to build on the progress seen throughout 2023, which saw the Executive Agencies track 588 new jobs across their respective sectors, as we move towards our national target to see 1,800 new jobs created across the economy by 2026.
“As we continue this trajectory, our continued collaboration with industry, both through our public/private partnerships and regular outreach remains of the utmost importance to ensure we are driving forward initiatives which enhance the Island’s proposition through policy and product development and promoting the Island to new markets.
“The Department for Enterprise truly sits, as one of the key Departments, at the heart of the Economic Strategy, and this Department Plan brings together our strategic priorities to bring positive change to our economy and forge a more secure, vibrant and sustainable economic future for our Island.”
The Department Plan will be laid before Tynwald in May 2024, and a copy of the document can be accessed here.
