GD0048/12
The information within this report can be provided in large print or audio tape on request The Treasury Yn Tashtey
MARKETING INITIATIVES FUND REPORT FOR THE YEAR 1 APRIL 2011 TO 31 MARCH 2012
September 2012
TABLE OF CONTENTS
1. Introduction
2. New applications since 1 April 2011, details and status
3. Update reports on previous applications still in progress
4. Fit with Isle of Man Government Strategic Themes
5. Financial Report
6. Outlook
Appendices I Financial Summary of the Fund II Summary of applications since 1 April 2011 III Summary of applications 1 April 2008 to 31 March 2011 IV Summary of applications prior to 31 March 2008
MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
To the Hon. Clare M Christian, MLC, President of Tynwald, and the Hon. Council and Keys in Tynwald assembled.
1. INTRODUCTION
1.1 This is the fifth report of the Marketing Initiatives Fund (MIF), which was established by Tynwald within the 2005 Budget. It covers the year from 1 April 2011 to 31 March 2012.
1.2 The purpose of the Fund is primarily to provide for specific marketing support, where the costs and potential economic benefits can be clearly defined, which is used to promote the Island and its business opportunities.
1.3 In 2011-12 the Fund has been used to promote, inter alia, the e-Gaming Industry, Tourism and Leisure marketing and television campaigns, the Small States Financial Management Programme, Government’s centralised public relations, Space Marketing, and the Shipping, Retail, Agricultural, and motorsport sectors.
1.4 As at 31 March 2012 there was an uncommitted balance of £2,827,722 available for marketing opportunities, and sustaining the Island’s international personality, by representing the Island’s interests and building relationships.
1.5 The application process requires a basic business case to be submitted by the sponsoring Department to the Treasury in a format which includes the following:
A breakdown of the financial support required. The anticipated benefits from the investment. A reporting mechanism on the outcome of the investment.
1.6 Informal advice is provided through the Corporate Strategy Division of the Treasury. Applications for sums under £100,000 are authorised by Treasury. Applications for sums in excess of £100,000 receive Treasury scrutiny and further approval of the Council of Ministers.
1.7 Spending is recorded within the applicant’s departmental costs, and recovered from the Treasury at the end of each financial year. Progress reports including the outcomes of the spending are normally sought from applicants on a quarterly basis.
1.8 The Treasury is committed to selling success stories to potential new investors, and I am firmly of the belief that the Marketing Initiatives Fund should continue to be used for this purpose and to stimulate further diversified economic growth.
Hon W E Teare, ACIB, MHK Minister for the Treasury September 2012
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2. SUMMARY OF NEW APPLICATIONS TO 31 MARCH 2012
This section of the report contains a summary of each new application which has been approved in the reporting year, the amount spent and the current status of each project. The cross reference contained within brackets for each item refers to the summary produced at Appendix II.
2.1 Department of Economic Development TT Zero 2011 - £76,500 approved in April 2011
This application was for funding to enable a one lap clean emissions race (TT Zero) to take place as part of the 2011 TT. Funds were required for setting up the paddock, safety items, rider insurance, TV production and for team travel and appearance fees. Success was to be measured in terms of positive public relations for the Isle of Man in clean tech terms and by demonstrating that the Isle of Man is a good location for the development of such a sector.
The 2011 race benefitted from the participation of two new high profile teams including the first entrant from Japan, an entry from the prestigious Massachusetts Institute of Technology as well as the continued involvement of US based MotoCzysz. The Department also introduced a University prize for the leading University team.
The TT Races Press Office worked alongside Lansons, Government’s public relations agency, to ensure that the event was promoted to a cross section of media and audiences. The press launch, which was attended by the 2010 TT Zero winner Mark Miller, generated an estimated £250,000 in equivalent advertising value including preview features of at least five pages from the European journalists that attended the event. There was extensive on-line, press and TV coverage.
(Appendix II – MIF ref 67 Status Completed).
2.2 Department of Economic Development Operational marketing budget for the Director of International Business Development - £150,000 per annum for two years approved in May 2011
The Department of Economic Development's Director of International Business is responsible for advising on and implementing the Department's Country Strategy, which is an initiative designed to identify and channel further inward investment into the Isle of Man.
Funding was applied for to attract new inward investment from the UK and from those countries which form part of the country strategy which includes the Middle East, China, India and Russia. The director has been actively involved in generating leads and enquiries from these markets.
The sum of£5,913 has been spent up to 31 March 2012.
(Appendix II – MIF ref 68 Status In Progress).
2.3 Department of Economic Development E-gaming European and UK market access - £75,000 approved May 2011
Approval was given for funding of £75,000 for one year to develop access to European markets for Isle of Man based e-gaming operators.
The project has recently commenced with four European nations having been approached to begin initial negotiations. Trips to each of these nations will be required in the next two years. Successful negotiations will be announced through the press.
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Expenditure has not yet been incurred against the MIF approval.
(Appendix II MIF Ref 69 – Status In Progress)
2.4 Department of Economic Development External Perception of IOM product offering - £150,000 approved June 2011
The main driver of this application was the need to have marketing materials with a common Isle of Man identity. In addition £60,000 of the application was required for internet search engine optimisation to ensure that the Isle of Man’s offering features early in any internet search on key words particularly where the searcher is unaware of the Isle of Man.
A new common visual identity has been developed following market research and discussion with internal and external stakeholders. ‘Isle of Man. Where You Can...’ has inspired a new common approach which, for the first time, presents a consistent, unified and coherent approach to promoting the Isle of Man in a Business to Business/Inward Investment context.
A new website has been created – www.whereyoucan.im – and Search Engine Optimisation and Social Media Management services have been procured to complement this to ensure increased digital presence.
Factsheets (digital and print-ready versions) have been produced covering various elements of the business environment (e.g. regulation, infrastructure) in the Isle of Man, plus information on quality of life incorporating details of our excellent health and education systems.
The public areas and meeting rooms of St George’s Court HQ, as well as rooms in Nivison House, have been refreshed with new visuals that highlight the diverse nature of the Department’s activities to business visitors.
Customer Relationship Management training is complete, the internal marketing programme is ongoing (using the new visual identity) and the marketing strategy and associated action plans are in place for all sectors.
Benefits and Return on Investment: unlike the Business to Consumer markets (which can be evaluated by tourism/visitor numbers), the return on investment of marketing activity in the Business to Business sectors can be difficult to quantify in the short term due to the long lead times typical of business development. However, the Business to Business website was launched and positive feedback from industry received. The launch event was attended by 200 business leaders and specific feedback has been received suggesting the co-ordinated approach has helped immensely with businesses’ own clients. The website has almost 7000 subscribers to the newsletter which is going out bi-monthly, with approximately 22% of subscribers opening the circular – on par with the industry average.
To 31 March 2012, £32,965 has been spent and approximately £68,000 has been committed.
(Appendix II MIF Ref 70 – Status In Progress)
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2.5 Department of Economic Development Pensions Industry Strategy 2011-13 - £220,000 over two years approved July 2011
The purpose of the funding is to market and develop the pensions industry over a two year period and give effect to the marketing strategy recommendations on the sector contained in the Association of Pension Service Providers (APSP) document titled “Marketing Plan and Budget Proposals”.
The above document details the strategy, implementation and activity which has commenced by the Department of Economic Development in conjunction with the IOM APSP Association.
Implementation of the strategy is at an early stage and commitments to expenditure are lower than expected but this is scheduled to increase through 2012. The IOM focus is to build awareness in the short term before new international pensions business may result. Improved management information systems are being put in place in conjunction with the industry to track new business opportunities. Plans are now underway for a London visit to professional advisers and this will provide valuable market intelligence for the industry and the Department to assist in fine tuning the strategy.
Of £220,000 allocated to this initiative, £10,000 was spent in 2011-12 attending the Professional Pensions conference in conjunction with the APSP. Expenditure in the year 2012-13 is projected to be in the region of £12,000 attending the International Adviser London conference plus a further £18,000 later in the year for attendance at a conference yet to be identified.
(Appendix II MIF Ref 71 – Status In Progress)
2.6 Department of Economic Development Two country market strategies China and Middle East - £584,000 over two years approved
Treasury and Council of Ministers’ approvals were granted in July 11 to funding over 2 years of up to £334,000 on developing the China market for business. An initial trip by 3 officers of the Department was carried out in August with 35 meetings held with both Government and business sectors. This resulted in a major China business visit to IOM in October. A second event led trip was carried out by 2 officers of the Department in conjunction with a number of Isle of Man businesses in October resulting in several leads.
The new strategy for China and SE Asia is still in its infancy and initial work to October 2011 having been largely concerned with testing the IOM's relevant propositions for wealth/asset management, capital markets and EU import/export together with support through event led activities for businesses targeting the region. One IOM business which participated in the October trip has successfully won new business with the Department continuing to follow up on leads which may create potential new businesses on the Island. A further China promotion took place in April 2012 at a cost of £14,000 and followed the same format as the October trip.
Treasury and Council approvals were also granted in July 2011 for funding over two years of up to £250,000 to develop the Middle East markets for business. An initial trip by the Chief Executive Officer of the Department of Economic Development was carried out in October to conduct meetings with Government, regulators and business. In March 2012, the meetings were followed up resulting in a trade co-operation Memorandum of Understanding with Bahrain.
There are a considerable number of Isle of Man businesses already successfully operating and selling in the Middle East, principally in retail financial services (life insurance, savings and
5 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012 retirement products) and activity is therefore directed at supporting them as well as seeking out new inward investment potential including Middle East banks. The initiative has been running for six months, however it is expected to be a full year before full benefits can be ascertained.
Total spend planned until 31 March 2012 totals £41,000 leaving a balance of £543,000 unspent.
(Appendix II MIF Ref 72 – Status In Progress)
2.7 Chief Secretary’s Office PR contract Lansons to 31 December 2011 - £50,000 approved August 2011
An extension to the central PR contract, which concluded on 20 September 2011, was granted by Treasury to provide continuity until the new contract came into operation on 1 January 2012.
This three-month extension to the public relations programme was designed to meet over-arching communication objectives which are consistent with the aims of Government’s strategic plan.
These include: - Enhance the Island’s international reputation - Position the Isle of Man as a leading international business centre - Encourage further economic growth and inward investment
(Appendix II MIF Ref 73 – status Completed)
2.8 Chief Secretary’s Office PR contract 1 Jan 2012 to 31 Dec 2014 - £250,000 per annum for three years approved August 2011
Treasury’s approval in principle for a new three year contract for a centralised programme for public relations and public affairs to be managed by the Head of Communications of the Chief Secretary’s Office received endorsement from the Council of Ministers on 10 November 2011.
In the first three months of the contract, which is a joint contract with the Department of Economic Development, Lansons Communications has made substantial progress in delivering the required advice and support services. However, it is early in the three-year contract to have achieved quantifiable results. In a number of areas many of the benefits are of a qualitative and subjective nature. Activities in the first three months of the contract include:-
Event management support Lansons worked with Chief Secretary’s Office, Treasury and the Department of Economic Development to develop a communications plan supporting the publication of a report from Ernst & Young LLP examining the Isle of Man’s economy and quantifying its benefits to the City and the North West of England. Lansons will be assisting in the timely execution of the communications plan.
Engagement Programme Lansons worked with Chief Secretary’s Office to agree and assist in delivering a robust programme of engagement for the Chief Minister, Treasury Minister and Minister of Economic Development with influential leaders in Westminster, Whitehall and the City of London as well as embassies accredited to the Court of St James. The on-going engagement programme also includes influential UK and international media.
Advice
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24/7 media monitoring is provided in order to identify issues pertinent to the Isle of Man’s international reputation. Similarly, political developments in the UK and further afield are monitored. The information gathered through the monitoring process is evaluated and appropriate courses of action are developed in consultation between Chief Secretary’s Office and Lansons.
Formal charting of progress As required by the contract, the agency has formally charted the regular contact between the Chief Secretary’s Office, the Department of Economic Development and the agency, itself. At the end of each year the performance against the brief will be reviewed and evaluated by all parties.
(Appendix II MIF Ref 74 – Status In Progress)
2.9 Department of Economic Development TT World Series - £100,000 approved August 2011
Approval was given for the Department to investigate the opportunities of economic development which might arise from launching a TT branded World Series of motorcycle road races.
BACKGROUND The Isle of Man TT Races have a phenomenal sporting history spanning over 100 years. Given the heritage of the event and its importance in enhancing visitor numbers to the Isle of Man, the TT Brand is of considerable value.
Over recent years the event has grown into a significant commercial sports attraction with worldwide attention and revenues being raised through official event agreements.
The Department has protected the TT brand by way of UK and Northern Ireland trademark registrations for ‘TT’ and the official TT logo. It has the right to appoint official race sponsors, official TT service providers and official licensed partners.
FEASIBILITY STUDY Through its specialist skills, experience and innovation The Sports Consultancy was appointed to conduct a feasibility study into the formation of a TT branded World Series of motorcycle road races.
The feasibility study is focusing on how the economic position of the Isle of Man, its status within the international motorsport and financial communities and its strategy for growth in tourism can be enhanced by the introduction of a TT branded World Series.
The study will provide recommendations on a wide range of issues including (but not limited to) intellectual property rights, franchising, the availability of suitable venues, commercial contracts and income opportunities, marketing and promotion, team, manufacturer and competitor involvement, logistics, and safety and risk management.
It will also explain how a TT branded World Series will contribute to the inward economic development of the Isle of Man, specifically, through promoting the Island as a place to visit and/or do business with, including detailed financial projections of both cost and income.
CURRENT POSITION The Sports Consultancy has worked collaboratively with the Department since their initial appointment and has provided weekly updates on progress, as well as more detailed briefings for Department staff involved in the project on a monthly basis.
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The consultation period is over and all the research has been compiled. The Sports Consultancy presented their findings and recommendations to the Department in April 2012. The Department is now considering its options and making plans for the way forward. These plans will be shared with all relevant partners at the earliest possible juncture.
A sum of £34,256 was spent to March 2012. The total cost of the contract with the appointed consultant is £57,093.
(Appendix II MIF Ref 75 – Status In Progress)
2.10 Department of Environment Food and Agriculture Promotion of Manx Queen Scallops - £46,000 approved October 2011
Approval was given for funding for a year’s marketing programme to promote the Manx Queen Scallops as a premium product within the seafood market. The Department has been working for a number of years to increase the value of the fish processing industry by placing Manx Queenies as a premium value product. In excess of 96% of the produce is exported to Europe. In May 2011 the Isle of Man Queenie Fishery was independently assessed and accredited under the Marine Stewardship Council award. Increasingly fishing boats are accredited under the Responsible Fishing Scheme. Fish Processors are working towards accreditation under ISO 140001 and working to protecting the Manx Queenies as a premium brand under the Protected Designation of origin legislation offered by the European Union.
The measurement of success will be the comparison of future turnover of the fishing and fish processing sectors compared with the following figures for 2009-2011:
No Jobs 2011 2010 2009 At Sea 150 150 150 Processing Summer (Winter) 220 (150) 180 (90) 100 (75) Ancillary Service 30 30 30 Total Summer (Winter) 400 (330) 360 (270) 280 (255)
The MIF funding aspect is not scheduled to start until July 2012. However, several years' worth of effort has been put in already, to put in place the management systems required to support the development and marketing of this brand including:
Science programme, legislation and accreditation processes that gain MSC accreditation for the Isle of Man Queenie Fishery in June 2011 Accreditation of 'Isle of Man Queenies' for Protected Designation of Origin Status, published in the European Journal in January 2012, due to come into effect June 2012 Acceptance of Manx fishing vessels into the Seafish Industry Authority Responsible Fishing Scheme, - 6 vessels are already accredited, with more undergoing the process Pre-assessment of the Isle of Man Scallop Fishery for MSC accreditation, to take place June-Sept 2012 Development of a significant refurbishment programme for Mill Road Yard, and will soon be an ISO accredited Food Park Assistance with local processors in improving processing facilities, with a view to becoming BRC accredited Awarding of the 2011 Sustainable Seafood of the Year to Isle of Man Queenies at Billingsgate Market in 2011 Attendance at the 2012 Seafood Expo in Brussels, the largest seafood exhibition in the world, with the aim of securing an appropriate stall on behalf of the Isle of Man seafood industry at the show in 2013, funded via MIF.
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(Appendix II MIF Ref 76 – Status Not Started)
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3. UPDATE REPORTS ON APPLICATIONS STILL IN PROGRESS
This section of the report contains a summary of each application which is still in progress or which was completed during the year, the amount spent and the current status of each project. The cross reference contained within brackets for each item refers to the summary produced at Appendices III and IV.
3.1 Department of Economic Development Business Development of E-Gaming industry - £200,000 pa for three years commencing 2009-10
Approved funding was for development of e-gaming sector business from Asia and South American markets specifically. Amount spent/committed to date is £101,538 total: 09-10 £7,084 10-11 £56,412 11-12 £38,042
Continued exhibition attendance and sponsorship is the key marketing promotional activity going forward and has driven much success over the past 3 years.
The main conferences to date have been ICE in London, the Gaming Executive Summit in Panama, iGaming Asia, iGaming SuperShow in Dublin, EGR Live in London and EIG in Milan. It is believed that the main target markets are UK, Australasia and South America and these events target the client base.
There are 11 existing licence holders as a result of the efforts to date and recent efforts resulted in two licence applications in 2012 with further expected in the course of the year. The value to the Isle of Man Treasury not including duty and VAT is estimated at £400,000.
(Appendix III MIF Ref 45 – Status In Progress)
3.2 Chief Secretary’s Office Monitoring and evaluation service comprising a public perceptions audit and awareness and perceptions tracking. £99,760 was approved on 14 August 2009 to fund the engagement of Lansons to carry out the work which will help to shape Government’s communications strategy and influence decision making
The monitoring and evaluation service has provided data to assist efforts to highlight the Island as a prime place to live and work. This in turn benefits the wider economy by attracting more quality businesses to the Island – thus contributing to gross national product and providing greater business and job opportunities for Island residents.
The remaining funding from this application will be spent during 2012-13 in the second wave of the perceptions tracking survey that will be used to identify any shifts in attitude among the Island’s target audiences.
The findings of the initial wave of research have been presented to the IoM Government. Data has helped: - to gauge what a range of stakeholders think about the Isle of Man - identify emerging opportunities/threats
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- enable communications teams to adapt to evolving agenda - measure and report on the effectiveness of communications programme
(Appendix III MIF Ref 47 – Status In Progress)
3.3 Department of Economic Development Approval was given for the Marketing Budget of £982,900 for 2010-11, to be financed from the Marketing Initiatives Fund instead of from the Revenue Budget
Work continues to promote the Isle of Man as a visitor destination. Activity in 2011-12 has included attendance at a number of tourism exhibitions targeting both potential visitors and the tourist trade, re-development of the visitisleofman website, a TT Homestay campaign and the development of a set of tourism brand guidelines.
Key Performance Indicators targets for the year were:
Target Achieved Visitor numbers 300,000 299,778 Visitor spend £90 million £98 million Visitor Guide distribution 75,000 100,000 EAV £1 million £2.2 million Internet visits to visitisleofman.com 1.86 million 977,738 unique visitors and gov.im/tourism 2,634,478 total visits
The 2011-12 promotional activity focused on continuing to raise the Island’s profile as a visitor destination and actively coordinating joint marketing initiatives with the tourism sector.
Exhibitions During the year the tourism team has attended 11 exhibitions with industry partners, namely; Belfast Holiday World, Dublin Holiday World, Destinations Holiday & Travel Show, Best of Britain & Ireland, The Education Show and two Dive Shows. Support was also given to Manx2 Airlines, with attendance at The Royal Welsh, Anglesey, Great Yorkshire Show and Malvern Show. Industry partners reported increased business through this activity.
Isle of Man Visitor Guide The IOM Visitor Guide was distributed through a number of channels including via visitisleofman.com, exhibitions attended by both IOM Tourism and partners and via online and press advertising campaigns. All of the 2011 Visitor Guides, a print run of 100,000 copies, were distributed. The distribution campaign for the 2012 issue has commenced and approximately 73,500 of our 2012 Visitor Guides have been distributed to date.
Heritage/Eco Tourism The Department continues to work closely with a number of external parties to develop tourism. During the year assistance has been given to the Manx Whale & Dolphin Watch as well as £10,000 to the Marine Officer at the Manx Wildlife Trust.
The Marine Officer has raised awareness of the Island as a visitor destination for marine tourism. There is a constant stream of online postings through social media regarding sightings including regularly feature news articles on marine sightings originated by the marine officer.
The Marine Officer provided expert content for significant broadcast media coverage for the Island both in the UK and internationally including:
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BBC’s Britain’s Secret Seas – Estimated Advertising Value £500,000 German Mare TV (Ocean TV) 8 million viewers
In addition, the Marine Officer has hosted two specialist shark-watching groups as well as assisting independent travellers with advice on planning their itineraries and has supported tourism events such as the Queenie Festival with marine touch tanks and interpretation for visitors.
Internet The visitisleofman.com website is currently being reviewed and redeveloped, ensuring it continues to promote the IOM in a positive and effective way. Good progress is being made on the re- development of the website, scheduled to be launched in April 2012. A strong social media presence was also established.
Irish Campaign Promotion took place in a number of Irish publications namely the Northern Ireland Travel News, Belfast Telegraph, Travel Extra and Irish Golf publications.
Current Year Campaign The 2011-12 schedule of promotional activity included placing advertorials in key national press and specialist publications, targeting potential visitors and the tourist trade. Examples include Heritage, Coast, Countryfile, Coach Touring and Travel GBI publications. Joint marketing initiatives with the tourist sector included working with Manx2, Isle Of Man Creameries, The Sefton Group and the Steam Packet Company.
Next Year Campaign A number of initiatives have taken place during the year to foster a coordinated approach between MNH, DCCL and Tourism, to raise awareness of their products and to develop appropriate communications, and consequently make the best use of available budgets.
Overseas Marketing During the year work continued with VisitBritain to increase our visibility, this included promotion on their website, having a stand in the VisitBritain London Visitor Centre and featuring on their new online TV site. Other overseas activity included Supporting an Isle of Man presence at the L’Orient Festival, and placing an advertisement in the French newspaper, Les Echos.
Spend in 2011-12 on this initiative was £306,310.
(Appendix III MIF Ref 48 – Status In Progress)
3.4 The Treasury Small Countries Financial Management Programme The sum of £1,000,000 was approved for a five year programme for the Isle of Man to act as “role model” and “educator” to small developing countries in the area of regulation and international responsibility.
The SCFMP is intended to provide a tangible way in which the Island can use its expertise and experience to benefit some of the poorest countries in the world and to assist in the improvement of regulation and corporate governance in response to developing international standards.
Funding for the programme was announced during the 2009 budget when the scope of the Marketing Initiatives Fund was broadened to include the wider promotion of the Island’s international identity. A commitment of £1m over a period of 5 years was made and this had been previously agreed by Council in principle following a paper considered in February 2008.
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The programme has now been delivered three times, initially in September 2009, again in July 2010 and with the third year delivery completed in September 2011. The event is co-hosted over two weeks by the Island’s International Business School and St Catherine’s College, Oxford.
After three years of the programme, a substantial number of influential individuals in the international governmental financial world have a much greater awareness of the Isle of Man. The Island’s stance on tax transparency and regulation has been enhanced and the programme perfectly complements and reinforces the Island’s international reputation. In other cases, the programme is a first introduction to the Isle of Man and feedback has been wholly positive and widely circulated.
To date, some 77 participants from small countries, along with funding partners from large countries, have formed a valuable body of influential people with a positive view of the Isle of Man.
The programme has been widely reviewed each year and has received considerable praise from a number of individuals and organisations, including the president of the World Bank at the annual meetings of the World Bank and IMF, and politicians and high ranking officials from the participative nations.
Spend was £241,540 in 2011-12 with the remaining £92,234 committed to be spent on annual programmes over the next 2 years.
Strenuous efforts have been made to try secure additional funding from third parties but it has not been possible to secure sufficient funding to deliver further programmes for the final two years.
Spending of £40,000 is expected to take place during 2012-13 leaving £52,000 for the final year of 2013-14.
(Appendix III MIF Ref 50 – Status In Progress)
3.5 Chief Secretary’s Office Lansons Communications LLP centralised public relations consulting contract. £712,000 was approved by the Council of Ministers to fund the joint communications contract for two years, 2009-10 and 2010-11.
The inter-departmental PR programme is designed to meet over-arching communication objectives which are consistent with aims of Government’s strategic plan. The aims include: . Enhance the Island’s international reputation . Position the IOM as a leading international business centre . Encourage further economic growth and inward investment
£712,000 was approved by the Council of Ministers to fund the joint communications contract for two years, 2009-10 and 2010-11.
Through this MIF funding Lansons provided the Chief Secretary’s Office and Department of Economic Development with advice and support on appropriate activities in both reactive and proactive situations and with specialised industry media: providing media monitoring, developing effective relations with industry representatives in the IOM, and in developing and delivering a programme of political engagement with the UK.
(Appendix III MIF Ref 55 – Status Completed)
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3.6 Department of Economic Development Ship Registry – £75,000 was approved in 2010 to provide for the continuing promotion of the Isle of Man Ship Registry in the Far East.
The progress report for this application can be found under point 3.11.
(Appendix III MIF Ref 56 – Status In progress)
3.7 Chief Secretary’s Office ‘Freedom to Flourish’ Marketing Adviser. The sum of £90,000 was approved to renew the Marketing Adviser’s contract for a further two years from September 2009.
A Marketing Consultant was appointed to deliver ‘Freedom to Flourish’ activities through the business and the third sectors with the aim of meeting Government’s strategic goals of encouraging economic development and further enhancing national identity and social cohesion.
The MIF funding was used to pay the consultant’s fees which support ‘Freedom to Flourish’ Champions on such issues as skills development and job opportunities, digital inclusion for mature people, health and safety workshops for the third sector, and the ongoing ‘Charity Challenge’ and ‘Tell Me’ project for young people. The Consultant developed an updated suite of ‘Freedom to Flourish’ collateral including items to promote the IOM through the Commonwealth Youth Games in September. There were 36 Champions, representing a workforce in the IOM of more than 6,500 people, by the end of the contract.
The final spend of £14,175 was incurred between April 2011 and September 2011 when the contract finished.
(Appendix III MIF Ref 58 – Status Completed)
3.8 Department of Economic Development Space Marketing spend 2010-11 to 2012-13. Approved funding of £1,437,750.
The contract for these services has been put out to tender for 2012 and the basis of the new contract has been changed to focus more specifically on business development to include targets. The overall purpose of the contract is to raise the profile of the Isle of Man as a centre of excellence for space commerce related activities with the desired outcome being to attract more companies to start-up and or relocate bringing benefits associated with job creation, increased cash flows through the banks, work for the professional intermediaries and the creation of an innovative (space) profile to help increase media interest in the Island generally.
There are currently four active lines of enquiry from companies looking to start up or relocate to the Isle of Man.
The 2012 Contract Targets and KPI’s
Targets 1. Contractor to produce and implement a detailed action plan, designed to identify, target and approach companies based on market developments who may be interested in the Isle of Man as a location for space related activities.
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2. Develop a minimum of 6 space related inward investment leads for the Isle of Man eg, Head or regional office, research and development, e-business, manufacturing, import/export and technical services including leads relating to the possible re-activation of the existing satellite ground station/teleport and related telecommunications support. 3. Develop opportunities to host international and educational space related events on the Island through links with other leading industry bodies, educational organisations and illumini. 4. Attend key satellite related conferences and exhibitions as detailed in the action plan. 5. Work closely with existing Island space related companies to protect and grow the sector and devise co-operative cluster strategies to deliver increased activity with jobs. 6. Ensure full integration of all marketing activity with the Department of Economic Development’s own marketing strategy to include co-operation on the maintenance and development of the “Spaceisle” brand and website and to work proactively with Lansons Communications on general interest space media coverage for the UK and IOM press and associated trade publications. 7. Provide quarterly reviews of marketing plans, seek future spending approvals and agree service levels for the subsequent quarter. 8. Support the Isle of Man Government and the Departments own efforts in relation to inward investment promotion and support such meetings, events, press calls or other activities as requested from time to time.
Key Performance Indicator
Create a minimum of six new Isle of Man based full time employees in the year working directly in a space related discipline from existing or new companies.
Spend to 31 March 2011 from the original approved amount totals £479,549. Spending confirmed for 2011-12 is £421,685 though it is expected that the remaining balance of £536,576 will be spent in the third year.
(Appendix III MIF Ref 60 – Status In Progress)
3.9 Department of Economic Development Captive Insurance Industry Review - Implementation of Marketing Strategy 2009- 2011, £194,000 was approved February 2009
The purpose of the funding is to market and develop the captive insurance industry over a two- three year period and give effect to the marketing strategy recommendations contained in the Bennet Review Report on the sector. Final detailing of the strategy and implementation activity has been concluded and documented as of March 2010 in addition to the above Report. The action plan for 2011-12 is in place and currently being rolled out for 2011 by the Department of Economic Development in conjunction with the IOM Captive Association.
Of £194,000 allocated to this initiative, £25,000 was spent in 2009-10, and a further £22,760 in 2010-11. Expenditure in the year 2011-12 was £20,754 (comprising Airmic/Biba/Ferma/Cap Review IOM supplement). This leaves an unspent balance of £125,826 at March 2012.
Implementation of the strategy continues but the significant under-spend reflects a cautious approach to promotion in a soft market and that the plans have needed to be rolled over into a third year pending market improvements. The market remains very weak and the focus is to build profile and awareness in the short term before new business may result on the upturn in the
15 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012 medium term. Several new captive insurance business prospects are now in the pipeline though for potential set up in 2012 and improved management information systems are being put in place in conjunction with industry to track these through. Following the FERMA conference in Stockholm strong interest has been received from Swiss Re regarding an IOM company presence. Treasury recently confirmed upon request that this MIF fund expenditure period may be extended to end March 2013.
(Appendix III MIF Ref 44 - Status In Progress)
3.10 Department of Economic Development TT Races and Manx Grand Prix Festival - £453,000 was approved, to be drawn over a 3 year period 2011-13, in December 2010
Funding of £453,000 was approved to support a targeted marketing programme of the IOM TT Races and Manx Grand Prix Festival. The programme is intended to improve the quality of both events through increased visitors, tourism, sponsorship platforms and revenue.
The budget is to be drawn over a 3 year period 2011-13: £151,000 in year one; £141,000 in year's two and three; plus a one-off research cost of £20,000 in 2013 to evaluate the programme. The sum of £182,880 has been spent to date.
PRESS TRIPS The MIF has funded press trips for UK and European journalists to attend the 2011 TT Races launch which was held on the Isle of Man in April 2011.
The event featured leading teams and riders and a three-day press experience was created for visiting journalists; it included a guided coach trip around the TT course, a press conference and one-to-one interview opportunity with riders at the Sound Café, a lap of the course on hired motorbikes under the instruction and guidance of the TT Rider Liaison Officers and the launch of the 2011 TT Races at the Villa Marina. The press launch was also organised to coincide with the IOM premiere of the TT3D film.
Titles from Key European markets attended the launch included Riders Magazine (Italy), Rev (Portugal), Superbike (UK) MCN (UK), Fastbike (Germany) Motosport (Switzerland), Daily Telegraph (UK), Belfast Telegraph (NI), The Daily Star (UK), BSN (UK) and a television crew from ITV4. A journalist and photographer from ESPN Magazine (USA) also attended the event at their own cost.
The press launch generated an estimated £250,000 in EAV coverage including major preview features of at least five pages from the European journalists that attended the event.
Coverage generated by press trips to the Manx Grand Prix Festival has included: Enduro Extreme (6 pages), Classic Motorcycle Mechanics (UK) (2 pages), Australasian Dirt Bike (Aus/NZ), Freeride Magazine (Japan), Two Wheels (Australia), Enduro Magazine (France) Touratech's Traveltime magazine (German edition first, then global-English edition), Motorcycle Classics (USA).
PHOTOGRAPHY Professional Road Racing photographer Stephen Davison was engaged to provide copyright free pictures of the key events for the TT Races and Manx Grand Prix Festival 2011. This included the press launch, the 2011 TT Races and the 2011 Manx Grand Prix Festival. Local photographers, including Dave Collister, Kevin Clague and Tony Goldsmith, supported Davison.
16 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
The pictures were made available to around 1500 journalists worldwide who have registered to receive information from the TT Races and Manx Grand Prix Festival Press Offices. The pictures were also used to record and demonstrate commercial inventory (trackside sponsor advertising and other event sponsor branding as well as off track sponsor events and VIP hospitality) and benefits to existing and new commercial partners.
NEWS AGENCY A regional press News Agency were contracted to provide regional press articles and PA wire copy on the TT and MGPF. The service was also a key part of the crisis communications programme.
The TT service resulted in 121 individual press cuttings covering 49 titles with a total estimated readership of 9,834,514 and an EAV, based on display advertising rates, of £106,895.
The Manx Grand Prix Festival Service resulted in 46 cuttings from 37 titles with an estimated readership of 3.4 million and an EAV of £44,873
LAUNCH EVENTS The 2011 TT Races launch events were organised to coincide with the launch of the CineManx film production TT3D: Closer to the Edge. Journalists attending the 2011 Press launch were also able to attend the Isle of Man premiere while a PR programme was developed to support the UK premiere of the film held at the Westfield Shopping Centre in London. Leading TT riders including Guy Martin, Michael Dunlop, Ian Hutchinson and Conor Cummins attended the London launch which also featured Hutchinson’s Padgetts bike on display in the foyer and the Getty Images TT Collection “100 years on the Roads in a dedicated area.
Motorsport legend Murray Walker acted as the MC for the UK launch, which was attended by many of the leading UK bike and national press journalists.
ADVERTISING CAMPAIGN A print advertising campaign designed to generate incremental visitors and promote the newly created Manx Grand Prix Festival was developed. The campaign creative featured a diary of events, activities and experiences for visitors to enjoy on the Isle of Man during the festival.
The campaign ran from January to June 2011 and was placed in UK and Irish bike titles such as Classic Racer, Classic Bike and Road Racing Ireland amongst other. Rates at significantly below rate card were negotiated and titles were also obliged to commit to guaranteed editorial.
VIP TRIPS VIP trips to Isle of Man to see the TT Races and Manx Grand Prix festival were organised. Guests were invited on the basis that they would generate incremental media coverage as well as being suitable guests to appear in the VIP hospitality tent. Guests included famous riders.
EUROPEAN TRADE SHOW PROGRAMME A comprehensive Pan European Trade show programme has been developed to support the TT Races and Manx Grand Prix Festival. The 2011 programme featured two appearances with a dedicated Manx Grand Prix Festival stand at the Staffordshire bike show in April and October. Around 30,000 visitors attend each show and staff from Regency Travel and the Department of Economic Development was on hand to advise on trips to the Manx Grand Prix Festival.
This year also saw the first visit to the Milan Bike show. This activity is taking place between 8th and 13th November so results from the event are still to be evaluated but the show anticipates a final audience of around 400,000. The Department of Economic Development developed a
17 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012 programme of activity in conjunction with Italian based TT Merchandise and DVD distributor Cinehollywood.
The Department of Economic Development team visited the show with high profile TT riders Ian Hutchinson, Conor Cummins, Michael Rutter and Gary Johnson. One to one interviews with Sky TV, Mediaset, Motociclismo and Gazetta Del Sport were arranged and the press conference was also attended by a number of on-line and print journalists. Anticipated coverage includes a number of press features. An evening dinner was also arranged with leading Italian journalists.
The budget for the shows was spent on stand development, organising press materials and marketing collateral and a press conference and press dinner at the EICMA Milan show.
Further trade show involvement will include the Motorcycle Live event at Birmingham’s NEC starting later this month.
RESULTS Although a full evaluation cannot yet be made, as all of the results are not through, early indications are extremely positive.
Visitor numbers for both events are up with the TT Races reporting air traffic up 12.6%, sea passengers up 6.7% and motorcyclists up 5.5% and the Isle of Man Steam Packet Company figures revealing an 11% increase in motorcycle passengers, a 2% increase in cars and vans and a 4% increase in passengers for the 2011 Manx Grand Prix Festival.
The Manx Grand Prix and TT Races were also monitored by media monitoring company O’Leary Analytics, who monitor global on-line media coverage, providing an effective measure in the growth of media coverage.
Whilst media coverage for both events shows a significant increase since 2009, the levels of coverage for the MGP remained static throughout 2010 and 2011. The Department therefore undertook a review of the MGP coverage and adopted a revised approach to this initiative. Changes to the level of media coverage are expected in 2013.
(Appendix II MIF Ref 62 – Status In Progress)
3.11 Department of Economic Development Ship Registry Far East Marketing - £75,000 was approved in February 2011
This is still a continuation of the Far East marketing drive and, since the last report, 9 vessels have registered from the Far East - 2 from MOL, 2 from BW, 4 from Lauritzen and one from Korea which is the first of nine large container vessels which are owned by Isle of Man companies. The law firm Cains, has been appointed as a representative office for the Isle of Man Government in Singapore with effect from 1 March 2012 with a view to generating other business areas.
During the financial year 2011/2012, Isle of Man registered vessels from the Far East generated £158,237 including registry, survey and audit fees. This did not include the Island's representative fees which average £2,000 per vessel, nor did it include company formation costs or mortgage fees for the private sector. Private Sector income was in excess of £80,000 per annum. There are now 40 vessels which will generate an annual fee income of £40,000 next year for the Ship Registry.
(Appendix III MIF Ref 63 – Status In progress)
18 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
3.12 Chief Secretary’s Office/Department of Economic Development Financial Times Supplement – Doing Business in the Isle of Man - £64,000 was approved in March 2011
This initiative was aimed at raising further awareness of the Isle of Man as a leading international business centre by aligning the Island with the FT – a globally recognised and respected brand, and a trusted source of information.
Funding secured advertising space which guaranteed the publication of a four-page ‘Doing Business in the Isle of Man’ supplement. Articles in this supplement highlighted the success of the Manx economy and helped to deliver the Island’s core messages to a target audience of business decision-makers.
(Appendix II MIF Ref 64 – Status Completed)
3.13 Department of Economic Development Marketing Strategy for Funds Management Association - £266,000 was approved in March 2011
The purpose of this initiative is to develop and implement a new programme of marketing and business development activity over a 3 year period commencing April 2011. This is to support growth of the fund industry, increase the Island’s fund assets and increase the establishment of new funds and investment businesses. £82,500 projected for April 2011– March 2012 £89,000 projected for April 2012 – March 2013 £94,500 projected for April 2013 – March 2014
The Sector is under significant upheaval with the Department of Economic Development currently challenging the programme of events in the light of recent experience to ensure it is properly focused. New literature, proposition and country focus were developed during 2011-12.
Projected: £82,500 projected for April 2011 – March 2012 Actual Spend: £28,883 Remainder: £237,118
(Appendix III MIF Ref 65 – Status In Progress)
3.14 Manx Heritage Foundation Attendance at the Interceltique Festival, L’Orient - £24,000 was approved in March 2011 for the years 2011 and 2012
This event was a cultural promotion of the IOM at the world’s largest Celtic gathering. Manx musicians, dancers, food and drink producers and volunteers promoting cultural invests were in attendance. Adverse weather conditions resulted in less than expected turn-out. However, the IOM was still well received and there was a commercial success for a Manx seafood partner who received a major order for Queenies from a new European client.
The Department is intending to have the same format for 2012 with a view to refining its offering and becoming more commercially based, hoping to become self-sufficient within 1-2 years.
(Appendix III MIF Ref 66 – Status In progress)
19 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
4. FIT WITH ISLE OF MAN GOVERNMENT STRATEGIC THEMES
Government’s strategic plan for 2008-2012 has four central strategic themes: Income, Employment and the Economy Government Spending and Revenues Legislation and Regulation Quality of Life
It is considered that the initiatives which have been funded to date will contribute to Government’s policy on income, employment and the economy and in particular to contribute to economic growth and diversification.
5. FINANCIAL REPORT
The Fund was established in 2005 with an initial allocation of £2,000,000. The 2006 Budget added a further £1,000,000, and the 2007 Budget provided a further £4,000,000. The sum of £6,000,000 was transferred from General Revenue in March 2008, together with interest earned on the balance, and the 2009 Budget provided a further £5,000,000.
The closing uncommitted balance available for future marketing initiatives was £2,827,722 as at 31 March 12.
The summary schedule at Appendix I illustrates the income and expenditure of the Fund to 31 March 2012. Appendix II sets out details of the applications made to the Fund during the financial year 2011-12. Appendix III and IV show the individual projects and spending made to 31 March 2011 by those initiatives which were approved prior to 1 April 2011.
6. OUTLOOK
As there will still be constraints on transfers from revenue in the next few years the evaluation process will be stringent and the allocation of funds prudent. Increased scrutiny will be placed on the benefits and outcomes of the applications.
Support will be restricted to marketing initiatives, and will not extend to ongoing revenue commitments which must be more properly met by the revenue budgets of the Departments.
However, the purpose and underlying objective of the Marketing Initiatives Fund remains a keystone in the strategy for economic diversity and growth to attract inward investment and showcase the benefits which the Island has to offer in terms of being a jurisdiction where you can do business.
20 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
APPENDIX I
MARKETING INITIATIVES FUND from 1 April 2005 to 31 March 2012
2005/12 Income £ Transfers from General Reserve 13,000,000 Transfer from Economic Development Reserve 2009/10 5,000,000 Interest 2,884,674 20,884,674 Expenditure Expenditure for the year ended 31 March 2006 222,629 Expenditure for the year ended 31 March 2007 815,019 Expenditure for the year ended 31 March 2008 1,698,564 Expenditure for the year ended 31 March 2009 2,741,917 Expenditure for the year ended 31 March 2010 3,718,334 Expenditure for the year ended 31 March 2011 2,731,223 Expenditure for the year ended 31 March 2012 1,715,226 Interest transfer to General Revenue 31 March 2010 137,000 Approved but unspent 4,277,040 18,056,952
Uncommitted balance carried forward 2,827,722
Light Blue Book at 31 March 2012 7,104,762 Less approved but unspent amounts (4,277,040) 2,827,722
21 MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
APPENDIX II
MARKETING INITIATIVES FUND APPLICATIONS from 1 April 2011 to 31 March 2012
Total Actual Actual Planned Planned Planned Planned Planned Amount Expenditure Expenditure Expenditure Expenditure Expenditure Expenditure 1 April 2016 no longer Unspent at Ref Dept Date Details Approved to 31.3.11 to 31.3.12 to 31.3.13 to 31.3.14 to 31.3.15 to 31.3.16 onwards required 31 March 2012 67 DED April 11 TT Zero 2011 76,500 75,000 1,500 1,500 68 DED May11 Operational marketing budget for Dir Int Bus Dev 300,000 5,913 294,087 294,087 69 DED May 11 E-gaming European and UK market access 75,000 75,000 75,000 70 DED June 11 External Perception of IOM product offering 150,000 32,965 117,035 117,035 71 DED July 11 Pensions Industry Strategy 2011-13 220,000 7,716 212,284 212,284 72 DED July 11 Two country market strategies China and Middle East 584,000 13,035 570,965 570,965 73 CSO Aug 11 PR contract Lansons to 31 December 2011 50,000 50,000 0 74 CSO Aug 11 PR contract 1 Jan 2012 to 31 Dec 2014 750,000 62,500 187,500 250,000 250,000 687,500 75 DED Aug 11 TT World Series 100,000 34,256 65,744 65,744 76 DEFA Oct 11 Promotion of Manx Queen Scallops 46,000 46,000 46,000 0 0 Year to 31 March 2012 2,351,500 0 281,385 1,570,115 250,000 250,000 0 0 0 2,070,115
Cumulative total II, III & IV 16,801,374 2,731,223 1,715,226 2,063,797 344,500 250,000 0 0 49,601 4,277,040
22
MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
APPENDIX III
MARKETING INITIATIVES FUND APPLICATIONS from 1 April 2008 to 31 March 2011
Total Planned Planned Planned Funding Approved but Amount Expenditure Expenditure Expenditure Expenditure Expenditure Expenditure Expenditure no longer Unspent at Ref Dept Date Details Approved to 31.3.09 to 31.3.10 to 31.3.11 to 31.3.12 to 31.3.13 to 31.3.14 to 31.3.15 required 1 April 2012
31 DTL May-08 Manx National Heritage - L'Orient Interceltique Festival 46,628 580 19,587 26,462 (1) 34 DTL Jun-08 UK Television Campaign 900,000 736,831 163,169 0 39 TSY-FSD Aug-08 Sponsorship of LSE on AIM Listings Nov 2008/09 40,000 40,000 0 35 DTI Sep-08 Ship Registry - Far East Marketing Activities 75,000 25,250 44,859 4,891 0 36 DTI Sep-08 Centralised PR contract with Lansons 50,000 50,000 0 37 DTL Sep-08 TTXGrand Prix 100,000 70,122 21,062 6,258 2,558 0 38 DTL Sep-08 Quayside - prof fees Cains to dev agreement 60,000 42,727 16,785 488 40 DTL Sep-08 Quayside - prof fees Drivers Jonas to dev agreement 40,000 20,015 4,999 14,986 41 Tsy E/Space Nov-08 Marketing of the Space Industry -Man Sat 516,000 165,626 350,373 1 42 DTL Jan-09 Marketing of Isle of Man/London air routes 308,000 251,136 56,864 0 43 DTI Jan-09 IOM Shopping Website 304,000 185,578 118,422 0 44 TSY -FSD Feb-09 Enhanced promotion of the Captive Insurance Industry 194,000 24,660 22,760 20,754 125,826 Year to 31 March 2009 2,633,628 1,061,151 1,132,208 178,793 20,754 0 0 0 99,422 141,300
45 DTI Sep 09 Additional e-gaming 600,000 7,084 56,412 38,042 498,462 46 DoLGE Aug 09 UN Framework Convention on Climate Change 25,000 25,000 0
23 47 CSO Aug 09 Monitoring and evaluation of public perceptions 99,760 70,645 29,115 48 DTL May 09 Marketing Budget 2009/10 & 2010/11 subj to CoMin 1,965,800 614,953 730,631 306,310 313,906 49 DAFF Jul 09 IOM Meat Marketing Campaign 2009 & 2009 185,000 5,723 179,277 0 50 Treasury Oxford Said Uni conferences - small countries financial management1,000,000 programme 391,226 275,000 241,540 92,234 51 CSO Sep 09 Financial Times Supplement and Breakfast Forum 50,675 50,675 0 53 DTL Nov 09 TV Advertising 750,000 354,452 395,548 0 54 DTL Feb10 TTXGP payment to Mr Hussain 50,000 50,000 0 55 CSO Dec 09 Lanson contract - 2 yrs 712,000 356,000 271,000 85,000 0 56 DTI Feb 10 Ship Registry - Far East promotion 75,000 40,519 34,481 0 60 Tsy E/Space Dec 09 Space marketing spend 2010/11 - 2012/13 1,437,750 479,549 421,685 536,516 57 Treasury FSD Mar 10 Generic country listing on Hong Kong Stock Exchange 40,000 40,000 0 58 CSO Mar 10 Freedom to Flourish Marketing Adviser 90,000 23,123 45,492 14,175 7,210 Year to 31 March 2010 7,080,985 0 1,923,881 2,294,151 1,141,233 0 0 0 244,277 1,477,443
59 DED April 10 TT Zero 100,000 100,000 0 61 DEFA Aug 10 IOM Creamery 120,000 70,399 49,601 0 62 DED Dec 10 TT Races and MGPF 453,000 21,964 160,916 270,120 270,120 63 DED Feb 11 Ship Registry Far East Marketing 75,000 6,055 68,945 68,945 64 CSO/DED Mar 11 Financial Times Supplement Doing Business in IOM 64,000 64,000 0 0 65 DED Mar 11 Marketing Strategy for Funds Management Association 266,000 28,883 142,617 94,500 237,117 66 MHF Mar 11 L'Orient 2011 and 2012 24,000 12,000 12,000 12,000 0 Year to 31 March 2011 1,102,000 0 0 192,363 271,854 493,682 94,500 0 49,601 588,182
Cumulative Total Appendices III & IV 14,449,874 2,741,917 3,718,334 2,731,223 1,433,841 493,682 94,500 0 49,601 2,206,925
MARKETING INITIATIVES FUND Report for the Year 1 April 2011 to 31 March 2012
APPENDIX IV
MARKETING INITIATIVES FUND APPLICATIONS from inception to 31 March 2008
Total Planned Funding Approved but Amount Expenditure Expenditure Expenditure Expenditure Expenditure Expenditure expenditure no longer Unspent at Ref Dept Date Details Approved to 31.3.06 to 31.3.07 to 31.3.08 to 31.3.09 to 31.3.10 to 31.3.11 1.4.11 onwards required 31 March 2011
1 TSY- FSD Sep-05 Geneva conferences for HNW advisers 150,000 75,000 75,000 0 2 DTL Sep-05 Seasonality campaign for autumn and winter 95,000 95,000 0 3 DTL Aug-05 Conference bureau 3 year plan 300,000 12,629 47,487 90,048 78,472 71,364 0 7a DTL Jun-05 Quayside Development -Drivers Jonas fees 40,000 40,000 0 5 TSY E/Space Nov-05 Development of Space Industry over 2 years 955,000 463,852 437,760 53,388 0 6 DTL Dec-05 Signature Sponsorship - commercial management ofTT 255,000 85,000 85,000 85,000 0 7b DTL Apr-06 Quayside Development - Drivers Jonas fees 55,000 38,180 16,820 0 7c DTL Apr-06 Quayside Development - Cains, legal fees 40,000 40,000 0 8 DTL Sep-06 Square mile magazine - advertising IOM to City of London 15,500 15,500 0 15 CSO Feb-07 Freedom to flourish - Marketing consultant to 31.08.07 90,000 90,000 0 Year to 31 March 2006 1,995,500 222,629 815,019 669,628 163,472 124,752 0 0 0 0
11a DTL Feb-07 Irish routes Dublin 90,000 90,000 0 11b DTL Feb-07 Irish routes Belfast 79,000 79,000 0 12 MIG- Feb-07 Invest in IOM web portal 40,000 37,098 2,902 0 Year to 31 March 2007 209,000 0 0 169,000 37,098 0 0 0 2,902 0
13 TSY May-07 Captive Insurance Review 25,000 16,461 8,539 0
24 14 TSY Jun-07 Smiths report on Funds Review 580,000 165,076 227,051 145,740 32,500 9,633 0
16 CSO May-07 Freedom to flourish - high quality photographs 17,000 15,791 1,209 0 17 DAFF Jul-07 Pure Produce (IOM) - support of marketing strategy 285,000 44,744 84,380 95,476 33,416 26,984 0 18a TSY -FSD Jul-07 London Wealth Man Conference 15,000 10,000 5,000 0 18b TSY -FSD Jul-07 Geneva Wealth Man Conference 65,000 65,000 0 19 CSO Aug-07 Freedom to flourish - extension of consultant's contract 95,550 50,000 38,340 7,210 0 20 CSO Aug-07 Communications Unit -one year's costs 100,000 11,083 88,917 0 24 CSO Oct-07 Weber Shandwick - Public Affairs Programme for a year 135,000 65,999 2,738 66,263 0 21 DTL Aug-07 Marketing Awareness- post Foot & Mouth in UK 250,000 219,789 30,211 0 23 TSY -FSD May-07 AIM listing conferences 35,000 35,000 0 32 TSY -FSD Sep-07 Isle of Man Finance Advertising campaign 46,050 30,600 15,450 0 25 DTL Oct-07 Advertising - Oct/Nov NW England 113,000 91,803 21,197 0 26 DTL Oct-07 Quayside Properties, Drivers Jonas fees 40,000 3,490 36,510 0 27 DAFF Oct-07 Funding of Marketing manager for Fatstock Marketing Association 105,300 35,100 35,100 35,100 0 0 28 DAFF Dec-07 IOMMA marketing costs 08/09 & 09/10 158,445 9,763 59,890 0 88,792 0 29 DTL Dec-07 North West Television Advertising Campaign 77,916 77,916 0 30 TSY - E/Space Jan-08 E- Business marketing initiative, brand identity 1,000,000 389,481 194,077 416,442 0 33 TSY - E/Space Jan-08 Extension of ManSat Marketing contract for 1 yr. 490,000 490,000 0 Year to 31 March 2008 3,633,261 0 0 859,936 1,480,196 537,493 65,916 0 689,720 0
Cumulative Total IV 5,837,761 222,629 815,019 1,698,564 1,680,766 662,245 65,916 0 692,622 0