Cabinet Office delivers statement on aims to grow Island's workforce
The Cabinet Office has provided an update on inward migration, highlighting its importance in supporting the Isle of Man’s economic strategy and workforce.
Cabinet Office Minister David Ashford reaffirmed the government's ambition to create and fill 5,000 jobs, a key target set in the Island’s economic strategy.
Since 2021, he noted that 1,300 more people are in work, but warned that continued efforts are needed to attract workers to prevent a shrinking workforce and an increasing tax burden.
Work permit data indicates a positive trend, with applications rising - something the Cabinet Office attributes to interest from individuals within the Common Travel Area.
However, Mr Ashford stressed the need to ensure that the right workers come to the Island, with a particular focus on younger professionals.
The health sector was identified as a key driver of inward migration, with new arrivals in this field described as "enhancing the fabric of our community."
To further support recruitment, the Cabinet Office will review incentives aimed at encouraging people to relocate to the Isle of Man.
"We must understand the reasons why people leave the Isle of Man too."
Additionally, improvements have been made to the passport and immigration processing system, with turnaround times for applications reduced from 90 days to 45 days.