The government's Domestic Event Fund will now become a permanent initiative.
It comes following two years of the scheme being trailed.
The aim of the Fund is to give event organisers and local authorities the chance to develop new events to drive footfall and increase spending with local businesses.
It was first launched in 2020 and has so far encouraged over 200,000 people to attend unique events across the Island.
24-hour kayak marathon raises hundreds for charity
Fire caused by charging RC car controller
Manx police looking to recruit UK officers
Great progress on Peel sewage works, says MU
How much has been spent on carbon literacy training?
Gov made no assessment before apprentice scheme changes
Government strategy to promote local food under spotlight
Local man to run famous marathon for Children's Centre