London Gatwick and partners formally launch UK’s first ‘airport economic zone’ to stimulate growth
- Launch follows six months of preparatory work by expert taskforce from public and private sector
- Gatwick Region Airport Economic Zone is the UK’s first “aviation-powered economic zone” representing £155bn Gross Value Added – 7% of the UK economy
- Delegation of 27 public and private sector partners attending UKREiiF to promote the Zone and its new brand identity and help attract new investment into the region
A new economic powerhouse – the Gatwick Region Airport Economic Zone (AEZ) – launched today at UKREiiF - the UK’s premier real estate, investment and infrastructure forum in Leeds – 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 (£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 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 £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.
- More on the Gatwick Region Airport Economic Zone
- The form and function of economic zones can vary immensely and there is not one single approach to regional promotion employed by comparator economic zones that have an airport at their heart. Different models include enterprise zones, freeports and regional partnerships. The Gatwick Region AEZ is the first region in the UK to be branded as an Airport Economic Zone, and the first regional economic zone to be led by an airport.
- The Gatwick Region delegation at UKREiiF consists of the following 27 partners: Main partner: London Gatwick Associate Partner: Gatwick Diamond Initiative Public sector partners: Brighton & Hove City Council, Invest Chichester – Chichester District Council, Invest Crawley – Crawley Borough Council, Croydon Borough Council, East Surrey, Horsham District Council, Reigate and Banstead Borough Council, Invest West Kent –, Sevenoaks/Tunbridge Wells/Tonbridge & Malling Councils, West Sussex County Council Private sector partners: Develop Croydon Forum, Birketts LLP, Morgan Sindal, Modus, Oander, SHW, White Label Event partner: Ridgeview Wine Estate, Squerryes, Tinwood Estate, Wiston Estate, Great British Wine Tours, Bolney Estate, Denbies Wine Estate Supporting partners: Opportunity Mid Sussex – Mid Sussex District Council, Gatwick Diamond Business
With 43 million annual passengers, London Gatwick is the UK’s second largest and one of Europe’s top ten airports. It is a vital piece of national infrastructure that drives both the national and regional economies by generating £5.5 billion GVA and supporting over 76,000 jobs (2023). Almost 60 airlines fly from the airport to over 150 short-haul and more than 50 long-haul destinations. With a declared capacity of 55 movements an hour, London Gatwick is the most efficient single runway airport in the world.
The airport is located 28 miles south of the UK capital and is extremely well-connected, with more than a quarter of England’s population (15 million people) – including all of London – less than one hour away by road or rail. A six-year, £2 billion growth programme includes an ambitious plan to be a net zero airport by 2030 and to increase capacity by bringing the airport’s existing Northern Runway into routine use, alongside its Main Runway. Vinci Airports owns a 50.01% stake in the airport, with Global Infrastructure Partners managing the remaining 49.99%.
The world’s leading private airport operator, VINCI Airports operates more than 70 airports in 14 countries. Thanks to its expertise as a global integrator, VINCI Airports develops, finances, builds and manages airports by providing its investment capacity and its know-how in optimizing operational performance, modernizing infrastructure and managing their operations and environmental transition. VINCI Airports is the first airport operator to have committed to an international environmental strategy in 2016, to achieve the goal of net zero emissions across its entire network by 2050.
For more information:
Global Infrastructure Partners (GIP) is a leading infrastructure investor that specializes in investing in, owning and operating some of the largest and most complex assets across the energy, transport, digital infrastructure and water and waste management sectors. With decarbonization central to our investment thesis, we are well positioned to support the global energy transition. Headquartered in New York, GIP has offices in Brisbane, Dallas, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.
GIP has approximately $115 billion in assets under management. Our portfolio companies have combined annual revenues of approximately $71 billion and employ over 116,000 people. We believe that our focus on real infrastructure assets, combined with our deep proprietary origination network and comprehensive operational expertise, enables us to be responsible stewards of our investors' capital and to create positive economic impact for communities. For more information, visit www.global-infra.com.
