Gov't company created for urban and brownfield site regeneration

Thursday, 18 March 2021 11:10

Manx Development Corporation to be set up by 31 March

A new company within government is to be set up for urban and brownfield site regeneration.

The Manx Development Corporation has been passed by Tynwald this week.

In November members tasked the department for enterprise with forming the body by the end of this month.

It's to be established as an 'arms-length wholly government-owned company' with treasury as the sole shareholder.

A small non-executive board is to be setup to 'perform executive functions'.

Treasury Minister Alfred Cannan says it's an important move:

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