LGW part of new Gatwick Region Airport Economic Zone
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London’s Gatwick Airport is part of the newly formed Gatwick Region Airport Economic Zone (AEZ), set up to help showcase the region and its strengths to investors and developers from around the globe.
Centred in the region surrounding London Gatwick, it represents 7% of the UK economy (£155 billion 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.
The new brand is seen as being 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.
Gatwick CEO, Stewart Wingate, says: “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 anchor for the South East and provides seamless access to both global and domestic markets.
“Forming the 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 £1 billion 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.