DfE looking into ‘practicalities’ of The BIG Project

Proposals for university and green energy complex put to government

The ‘practicalities’ of creating a university on the Isle of Man – along with a green energy complex, and thousands of new homes – are being worked through by government.

The Department for Enterprise has confirmed it has received The Biosphere Innovation Gateway proposals.

It’s claimed The BIG Project – which is being spearheaded by The Sole Estate – could be partially built by 2029.

You can find out more HERE.

The DfE says it would be ‘premature’ to comment further at this stage on what is an ‘initial concept’ but acknowledges that it ‘recognises the value of incentives as tools to stimulate investment and regeneration’.

A spokesperson for the department added it will ‘continue to support this dialogue to better understand the specific proposal, the feasibility and the practical considerations that may be involved.’

The Chamber of Commerce has called on government to speed up initiatives to drive economic growth if it wants to achieve the goals it’s set in ‘Our Island Plan’.

It wants to see Special Economic Zones introduced to help boost the Manx economy.

In response the Department for Enterprise said: “The Isle of Man Government, across a range of departments, supports the investment and regeneration agenda and there are already specific incentives available for investment from individuals and businesses into our Island.

“Across the world there are many examples of additional areas prioritised for development being given additional incentives such as Special Enterprise Zones as used in America, Enterprise Zones as used in England and Ireland, and Enterprise Areas in Scotland. They all contain a mix of physical and financial incentives and often contain further planning consents.  

“In many cases they seek to offer tax incentives for businesses as part of the offering and to an extent therefore the whole Island already offers this opportunity with its attractive corporate tax system.

“Within the Built Environment Reform Programme, which was released in the summer of 2022 as part of the Island Plan, there is a commitment to further investigating incentives for brownfield redevelopment, and looking at specific areas to encompass enterprise zones will be part of the scope of this piece of work which the department is leading on.”

You can listen to Manx Radio's NEWSCAST with the Chamber of Commerce HERE.