It's hoped the creation of a taskforce in Castletown will reinvigorate the town.
A team that includes commissioners and local business people will develop a long-term strategy for retail and leisure.
It's being led by Martin Sewell, an independent retail consultant who was employed last summer by the Department of Economic Development to carry out a study aimed at developing retail and leisure initiatives within Castletown.
He said: 'The creation of the Town Team represents an important step forward in engaging all relevant parties to work together for the good of the retail sector in Castletown and to help stimulate further investment into the area.
'The Team would be delighted to hear from anyone with comments or suggestions on the development of retail and leisure opportunities.'
Chaired by Martin Sewell, the team comprises commissioners Alwyn Collister and Kevin Weir, Chamber of Trade members Ruth Hansbury and Colin Leather, retailer Zoe Thompson of Radcliffe's butchers, and local businessman Mike Osborne.
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