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Ramsey MHK and Treasury Minister Allan Bell says the type of manufacturing which has been carried out in the Isle of Man in recent years may not be viable in the future, and it may be necessary to diversify into other areas.
Despite today's announcement of a further 60 redundancies at kettle component manufacturer Strix, he believes the industry still has 'a good chance', providing current levels of investment and skills upgrading are maintained.
On a positive note he is pointing to the 600 vacancies at the job centre, and hopes new work can be found for those who have been laid off.
However, with so few opportunities in Ramsey for large scale employment, he says people may have to move elsewhere, particularly to Douglas:
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