The report highlights the Isle of Man’s lead in cutting edge satellite financing coupled with the value brought by the Government’s unique Public Private Partnership in orbital filing with Manx company, ManSat.
Futron’s CEO, Mr. Joseph Fuller Jr said, “The space industry represents greater US$275.0B in annual economic activity growing at approximately 9% a year – a rate well above that of the overall economy. The Isle of Man has effectively created a market niche that advances its national economic development, provides quality employment opportunities, and attracts significant foreign investment. Their non-traditional strategy for space focuses on financial and corporate services, providing a fascinating model to foster hi-tech economic activities. I imagine other nations and jurisdictions will look to the Isle to replicate its success.”
The Isle of Man Government’s Minister for Economic Development, the Hon Allan Bell MHK said, “I am delighted to learn of the findings of the Futron study on the Isle of Man and in particular, the fact that such a highly respected international consultancy firm that specialises in the space sector, should have produced such a positive analysis of the Isle of Man’s vibrant, diverse and rapidly growing space industry”
An excerpt form the report:
The Isle of Man’s unique approach to space activity allows it to punch above its weight in terms of global visibility in the space industry. The Isle has proactively created an innovative niche as a global provider of financial services and administrative services that support global space commerce. The maturity of space-related finance activities in the Isle, and the government’s approach to facilitating them, are advanced, especially given the relatively short amount of time for which the Isle of Man has been operating in the space industry.
The study benchmarks the Isle of Man’s competitive position against five peer jurisdictions — Bermuda, Gibraltar, Hong Kong, Singapore, and the United Kingdom. To assess competitiveness, the report compares the SpaceIsle to its peers across four broad areas of activity: Government Structure and Policy; Finance and Industry Activity; Human Capital Development; and Visibility and Participation. Using 10 quantitative and qualitative indicators, the study analyzes positioning and results, providing insight to policy makers regarding success, challenges, and future opportunities.
For a complete copy of this highly interesting report, please contact Mr. Ian Christensen at + 1 (301) 280-2645 or go to:
