The summit discussed opportunities to unlock economic growth through a new Airport Economic Zone (AEZ).
The AEZ will bring together a taskforce of senior economic development and business leaders, including representatives from the UK’s Department for Business and Trade, from across the six local authority areas within the Gatwick region early in December. This taskforce will develop the Gatwick Region AEZ, promoting long-term sustainable economic growth and inward investment, and includes 13 economic and business stakeholders, including four local authorities.
London Gatwick is already a major catalyst for growth, contributing 76,500 jobs and £5.5 billion to the UK economy every year. The AEZ aims to build on this regionally, by unlocking new trade, tourism, and benefits for business, and attracting global investment for the region, in line with some of the priorities identified in the Government’s Industrial Strategy Green Paper.
The airport is also awaiting a government decision on a £2.2 billion investment plan to bring its existing standby
Northern Runway into routine use which, if approved, will create a further 14,000 jobs and generate an extra £1 billion in economic benefits every year. These plans include an Employment, Skills, and Business Strategy, supported
by a £20 million fund, which would provide a further funding boost the AEZ.
Stewart Wingate, CEO, London Gatwick said: “London Gatwick has a strong track record as a catalyst for regional growth. We are excited to be working with the community and business leaders to leverage what has already been achieved, promote the many benefits of the region and attract future inward investment.”
Dawn Redpath, Surrey County Council’s Director for Economy and Growth said: “We recognise the contribution Gatwick makes to our regional economy, creating employment opportunities, driving investment and supporting business growth.
“We know there is potential for the airport to deliver further benefits in the future and look forward to playing an active role in the Taskforce on behalf of our businesses and communities.”
