The Isle of Man welcomes findings of Space sector report


image The Isle of Man 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: "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. Since the last Futron study carried out in February 2011, there has been a number of exciting developments including the use of laser optics components manufactured by a Manx company 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."

ENDS

A copy of the Futron report can be downloaded at:
http://www.futron.com/upload/wysiwyg/Resources/Reports/SpaceIsle_Competitiveness_Report_2012.pdf

Press contact:
Richard Slee
PR & Media Relations Manager
Department of Economic Development
Telephone: 01624 682364;
richard.slee@gov.im

Matthew Whitbread
Lansons Communications
Telephone: 020 7294 3686
mattheww@lansons.com

Websites:

www.spaceisle.com
www.whereyoucan.im/space

Why Isle of Man for Space?
. pro-space Government
. well-established cluster of space, aerospace and high-tech industries
. established professional infrastructure (which includes many of the world's leading companies in finance and insurance)
. zero tax on space and satellite business
. no Insurance Premium Tax
. access to orbital slots and launch licences
. home to the International Institute of Space Commerce

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