6 - 12 month programme to:
- stimulate local spending
- support tourism, hospitality and the domestic sectors
- support jobs in a thriving domestic economy
Our Domestic Economy
The 'Our Domestic Economy' programme is being led by Peter Boxer, Head of External Relations for Cabinet Office and has been created to help businesses that serve our domestic economy to recover from the lockdown through projects that incentivise spend, stimulate demand in local businesses and breed confidence. In doing so, the programme seeks to ensure that Manx businesses feel supported and nurtured, encourage changes in consumer behaviour from off-Island to on-island spend and contribute to a thriving local economy.
The headline objective of the programme is to protect jobs in the local economy.
Projects progressed through ‘Our Domestic Economy’ to date are:
|
Project |
Aim |
Funding amount |
Approval date |
Status |
More Information |
|
Super Manx Bank Holiday |
Supporting the delivery of a range of events over the Super Manx Bank Holiday at the end of August to promote local spending opportunities |
N/A |
30 July 2020 |
Completed |
|
|
Shop local & Staycation campaign |
In conjunction with Business Isle of Man, encourage active local spending in the wake of coronavirus restrictions and contract independent supplier to create short ‘LoveIOM’ campaign and materials |
£75,000 |
30 July 2020 |
In Progress |
|
|
Domestic Events Fund |
To provide finance for local initiatives either by registered charities, associations or local authorities that promote local businesses and consumer confidence. |
£500,000 |
30 July 2020 |
In Progress |
|
|
Domestic Economy Hospitality Stimulus |
To support local hospitality sector through scheme or promotion in conjunction with Restaurant Association |
£40,000 |
25th January 2021 |
In Progress |
|
|
LoveIOM Card |
To develop a voucher or digital currency platform to provide targeted incentives to consumers to spend in sectors that require assistance |
N/A |
|
In Draft |
|