Airport Economic Zone to drive growth in the Gatwick region

• Airport Economic Zone (AEZ) launched at London Gatwick’s annual Economic Summit.
• The AEZ initiative builds on the 76,500 UK jobs and £5.5 billion GVA London Gatwick already contributes to the UK economy every year.
• Announcement comes as London Gatwick awaits planning approval for the Northern Runway Project, a £2.2 billion investment that will create 14,000 jobs and generate £1 billion economic benefit.

Regional businesses leaders and local authorities met this week at London Gatwick’s annual Economic Summit to discuss 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 next month.

London Gatwick is already a major catalyst for growth, contributing 76,500 jobs and £5.5 billion to the UK economy UK 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 £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.”