JCC - Space Commerce in the Isle of Man


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JCC are proud to share a presentation on the continuing development of the Island’s Space Industry. Speaking about how the sector has emerged and its outlook was Mr Tim Craine.

Tim Craine is Director of the newly established Business Development Agency (BDA), part of the Department of Economic Development. As Director of the BDA, Tim has responsibility for Financial Services, Industry, Tourism, Space Commerce, E-Business/E-Gaming, Film & Media and Government’s Country strategy.

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JCC - Space Commerce in the Isle of Man

  1. 1. JCC Presentation Wednesday 13 th October 2010 <ul><li>Space Commerce in the </li></ul><ul><li>Isle of Man </li></ul><ul><li>www.spaceisle.com </li></ul>
  2. 2. Today’s Agenda <ul><li>How did it all start? </li></ul><ul><li>What are our advantages? </li></ul><ul><li>Who is here already? </li></ul><ul><li>What’s it worth? </li></ul><ul><li>Recent highlights! </li></ul><ul><li>What is planned for the future? </li></ul>
  3. 3. HOW DID IT ALL START? <ul><li>2000 Manx Government enters into an agreement with ManSat to file for orbital slots. </li></ul><ul><li>2003 Government appoints Honorary Representative to the Space Industry. </li></ul><ul><li>2004 Zero corporate tax for space activities </li></ul><ul><li>2005 Inmarsat and SES establish on Island </li></ul><ul><li>2005 Director of Space Commerce appointed </li></ul><ul><li>2006 SpaceIsle Initiative established </li></ul><ul><li>2007 International Space University Board on Isle of Man </li></ul><ul><li>2008 International Space University announce the creation of the International Institute of Space Commerce </li></ul><ul><li>2009 World’s Five Largest Satellite Operators establish </li></ul><ul><li>Space Data Association on the Isle of Man. </li></ul>
  4. 4. WHAT ARE OUR ADVANTAGES? <ul><li>0% corporate tax – No withholding taxes, no taxes on capital </li></ul><ul><li>The absence of 5% insurance tax (UK IPT) on insurance policies taken out in the Isle of Man for satellites </li></ul><ul><li>Government Grants </li></ul><ul><ul><li>Up to 40% equipment grants </li></ul></ul><ul><ul><li>Up to 40% building grants for new build </li></ul></ul><ul><ul><li>Up to 40% for rent payable for the first two years </li></ul></ul><ul><ul><li>Up to 40% revenue grants for marketing expenditure when targeting new markets </li></ul></ul><ul><ul><li>Up to 40% training grants </li></ul></ul><ul><li>The ability to file for a geostationary orbital slot quickly and efficiently and to a high standard through Ofcom to the ITU </li></ul>
  5. 5. WHAT ARE OUR ADVANTAGES? <ul><li>The ability to be able to source funding for a satellite build through the Isle of Man </li></ul><ul><li>Expertise in satellite matters associated with the legal and accountancy professions on the Island </li></ul><ul><li>International reputation – G20 White Listing/OECD tax compliant </li></ul><ul><li>A space aware and supportive Government </li></ul><ul><li>Political stability </li></ul><ul><li>Commercially friendly legislation </li></ul><ul><li>State of the art telecommunications infrastructure </li></ul><ul><li>British for US Export Control & ITAR </li></ul>
  7. 7. WHAT’S IT WORTH? <ul><li>Estimated exchequer benefit £34,944,363 between 2005-2013 </li></ul><ul><li>Estimated private sector income for 2011-2013 £1,194,604,558 </li></ul><ul><li>16 FTE jobs </li></ul><ul><li>Support for the industry £763,000 in 2010 - % of my salary - space marketing - contingent liability insurance - IISC support </li></ul>
  8. 8. RECENT HIGHLIGHTS <ul><li>ASCEND - leading space and aerospace market and consultancy analyst firms – 5th most likely to return to the moon (Sky News, The Today Programme, BBC Scotland) </li></ul><ul><li>Economic Policy Centre cites the IOM alongside the USA as the example for the UK to follow in developing a successful space industry </li></ul><ul><li>Google Lunar X-Prize Team Summit in the Isle of Man </li></ul>
  9. 9. WHAT IS PLANNED FOR THE FUTURE? <ul><li>Creation of a space register </li></ul><ul><li>Teleport facilities </li></ul><ul><li>Further relocations and corporate subsidiaries </li></ul>
  10. 10. Thank you! <ul><li>Tim Craine </li></ul><ul><li>Director Business Development Agency </li></ul><ul><li>Department of Economic Development [email_address] </li></ul>