Isle of Man Guide

The Treasury has today announced that Tim Craine is to take on responsibility for developing the Island’s space and satellite industry. Tim is already Director of E-Business and this will be a new responsibility to add to his existing portfolio. With his new responsibility, Tim will become the Director of E-Business and Space Commerce.

In making the announcement, Treasury Minister Allan Bell said that

“Space Commerce is becoming an increasingly important part of the Island’s economy. Four of the worlds’ largest satellite launch companies and operators have now incorporated on the Island and local companies are manufacturing components for NASA. This sector is now starting to grow and generate both profile and income and as a result local accountants, lawyers, insurance companies and banks etc are seeing the benefits. We are also starting to see early signs of job creation on the back of these developments which has to be good for the economy”.

The Minister went on to comment that

“because of the growing importance of this sector it is important to have a focus within Government to act as a central contact point and to have someone responsible for developing strategy and associated initiatives to ensure that the Island remains ahead of competitor jurisdictions. Tim Craine has already done an excellent job in helping to develop the Island as a centre of excellence for e-business and I’m sure that he will do just as good a job for space commerce.”

13th December 2005

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