With zero corporate and capital gains taxes, an educated workforce, precision manufacturing in place, a working wind power sector and ease of access to Europe, the Isle of Man, nestled between England and Ireland with its own governance, is an ideal place to set up shop or establish a formal headquarters.
That was the word from Manx emissaries in Foster City, Calif. yesterday evening as they took their pitch to Silicon Valley.
They also noted Mann’s position as an electric drive development leader. The Isle of Man hosts the TT (originally for Tourist Trophy) series of motorcycle races including, since 2009, the TT Zero event for all-electric motorcycles.
‘Keen to Grow’
Isle of Man Department of Economic Development representatives at Gilead headquarters in Foster City Thursday evening included Laurence Skelly (who is also a member of Tynwald, the Manx Parliament), senior energy policy manager Ken Milne, and Courtenay Heading, DEC investment advisor for technologies.
“We are looking for global partners who are going to bring excellence,” Milne said. “We are keen to grow these strategic alliances.” Milne emphasized that the Isle of Man has corporate and capital gains tax rates of zero. “We can set our own taxes,” he said. The Manx government today publicized new tax agreements with Turkey and Singapore on tax information exchange and double taxation and said it now has 32 international agreements on tax cooperation and transparency.
Heading was business development director for Bladon Jets, an Isle of Man firm that has developed a tiny (as small as four pounds) jet engine. Variants have been used as a range extender in an experimental hybrid electric car by Jaguar (F&F, July 26, 2010), and in the Pininfarina Cambiano concept vehicle seen as this year Geneva Auto Show.
‘Isle of Man. Where You Can’
Also on hand was Koen Matthys, an electro-mechanical engineer and lecturer at Brunel University on London, and founder of Komatti, a clean tech development firm that describes itself as a direct spin-off of the TT Zero motorcycle race; and Raul Aguilar of Electric Motorsport (Oakland, Calif.), an electric drivetrain and motorcycle developer – and TT Zero participant.
The TT Zero race consist of one 37-mile lap around a rugged road course on the Isle of Man. Several bikes broke the 100-mph average mark this year, in the event’s fourth year – a speed it took fuel motorcycles 50 years to achieve.
The Isle of Man’s marketing slogan and promotional website address? “Isle of Man. Where You Can.”
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Source: Isle of Man press event with Fleets & Fuels interviews