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DED signs MoU with Silicon Valley neighbour Foster City


The Isle of Man's aim to expand business links with Foster City, a hi-tech neighbour of Silicon Valley in the USA, has moved a step closer with the signing of a Memorandum of Understanding.

The MoU signed by the Department of Economic Development and Foster City aims to strengthen economic, trade and technical co-operation between the Island and the Californian city, home to corporates in the software, financial services and biotech sectors.

The DED has nurtured links with Foster City since hosting a Clean Tech Roadshow there in 2012, which according to minister John Shimmin generated much interest in the Island and technologies surrounding its clean-emissions TT Zero event.

Mr Shimmin has welcomed the Memorandum of Understanding, adding the Island's ability to grow the economy will depend on its ability to perform well in sectors currently thriving in Foster City.

Mayor of Foster City Charlie Bronitsky said: "We are very excited about our agreement with the Isle of Man as it demonstrates Foster City's commitment to looking outside the box for ways to make Foster City the premier place of the Peninsula to live, work and play."


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