Cowes of the North - Isle of Man Government
Cowes of the North - Isle of Man Government
Cowes of the North - Isle of Man Government
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Marine Business Case<br />
Discussions with <strong>Isle</strong> <strong>of</strong> <strong>Man</strong> Harbours suggest that <strong>the</strong>re is merit in developing a long-term<br />
business plan that considers <strong>the</strong> future financial position <strong>of</strong> <strong>Isle</strong> <strong>of</strong> <strong>Man</strong> Harbours. It has<br />
under its control several substantial assets, and <strong>the</strong> Director <strong>of</strong> Harbours considers that<br />
<strong>the</strong>se should be managed sensitively to improve returns, and reduce or eliminate <strong>the</strong> deficit<br />
in <strong>the</strong> long-term. The revenue from <strong>the</strong> marine leisure industry provides significant potential<br />
to achieve this, and it would <strong>the</strong>refore make sense to investigate this fur<strong>the</strong>r, building on work<br />
completed for this economic benefit study.<br />
Related to this, <strong>the</strong> Director <strong>of</strong> Harbours is interested in looking at <strong>the</strong> financing, decision<br />
making and governance structure <strong>of</strong> <strong>Isle</strong> <strong>of</strong> <strong>Man</strong> Harbours to see where strengths and<br />
weaknesses lie, and to benchmark <strong>Isle</strong> <strong>of</strong> <strong>Man</strong> Harbours against similar bodies. These might<br />
include Jersey Harbours, <strong>the</strong> Orkney Island Harbours Department, <strong>the</strong> Highland Council<br />
Harbour Authority, and / or o<strong>the</strong>r public sector port organisations owning / operating several<br />
harbours. If desired this could also reference <strong>the</strong> recent development in advice from <strong>the</strong> UK<br />
DfT for Trust Ports and Municipal Ports.<br />
Peel Harbour<br />
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