Centred in the region surrounding London Gatwick, it represents 7% of the UK economy (£155bn GVA), greater than the combined economies of Northern Ireland and Wales (£123bn).
AEZs bring together airports and their surrounding regions collaboratively, to leverage the economic value of the airport and drive a clear identity to promote the unique strengths of the region and attract investment, benefitting both airports and the regional economies that surround them.
A new brand to accompany the AEZ was also launched at UKREiiF where a delegation of 27 public and private sector partners is showcasing the Gatwick Region to investors and developers.
The new brand is an important step toward creating a unified, recognisable identity for a region covering West Sussex, East Sussex, Brighton & Hove, Surrey, Croydon, and Kent. The AEZ’s boundaries will remain flexible however, enabling it to adapt and support growth opportunities in neighbouring areas.
This dynamic, pro-business region is home to leading universities and industry clusters including aerospace, clean energy, life sciences, creative industries, and advanced manufacturing.Strong infrastructure – including London Gatwick, the UK’s second largest airport - make it an ideal location to operate with ease and scale.
Launching the new Gatwick Regional Airport Economic Zone at this year’s UKREiiF, Stewart Wingate, Chief Executive, London Gatwick, said: “A new economic powerhouse has arrived to drive growth and investment across this outstanding region with London Gatwick at its heart.
“The airport is an economic anchorfor the South East and provides seamless access to both global and domestic markets.Formingthe Gatwick Region Airport Economic Zone is part of our future plans to deliver economic growth and give the region a powerful single voice and recognisable identity to help unlock new investment, trade and tourism opportunities.”
London Gatwick already contributes 76,000 jobs and £5.5 billion to the UK economy every year. If approved, the airport’s plans to brings its existing Northern Runway into routine use, will also deliver a further 14,000 jobs and £1bn in growth for the regional economy each year.
Next steps for the Gatwick Region AEZ include developing an action plan that shapes the future AEZ operating model—defining its strategic objectives, outcomes, and funding approach. The taskforce taking this work forward will also draft and approve Terms of Reference, define the role and membership of the Board, and identify candidates for the position of an independent Chair.