Two million pounds will be spent on helping people relocate to the Isle of Man.

The Department of Enterprise says it is investing in a 'targeted relocation initiative' to encourage employers to bring new staff to the Isle of Man.

The Employee Relocation Incentive allows employers who are unable to secure local workers to receive up to 20 per cent of the first year's salary costs for an off-Island worker.

Assistance will be available to all export sectors including financial and professional services, digital and e-Business businesses, and manufacturing businesses.

Minister Laurence Skelly says: "We remain committed to attracting new business and nurturing talent and providing skills development for our local workers, and this will remain important but in itself this is not enough.

"To meet these levels of demand we know we need to grow our economically active population, making sure we have enough people to fuel the development of our local businesses and our economy.

"This targeted initiative will help our local employers find additional, skilled workers to ensure they can find continued growth and success in the Isle of Man.

"Some businesses have used the incentive so far to assist with finding suitable candidates, others have used it to work with recruitment agencies and some have used it to support candidates through the costs of relocation.

"The incentive can also be used to reach out to the Manx Diaspora around the world to encourage their return home.

"The incentive is relatively simple and not intended to take away opportunities from local workers but is instead put in place to grow the Island’s workforce where local employees are unavailable."

The department says the pilot scheme has helped secure 200 new employees in the last 12 months.