London Gatwick could support more than 35,000 new jobs through imports
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Imports could double at London Gatwick by 2038 if the airport’s Northern Runway is brought into routine use, alongside its Main Runway
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Increased imports could generate 35,000 new jobs across the UK and add £2bn to the national economy
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London Gatwick has submitted a planning application to bring the airport’s existing Northern Runway into regular use towards the end of the decade
London Gatwick could support more than 35,000 additional jobs across the UK, through the doubling of imports, if its Northern Runway plans are approved.
The airport is proposing to bring its existing Northern Runway into regular use alongside its Main Runway – plans which would support a significant uplift in trade, with cargo capacity to more than double.
Under the plans regular use of the Northern Runway (currently used for emergencies only) would increase the airport’s capacity. Many of these additional slots would support long-haul services, enabling increased volumes of cargo to be carried in the belly of the aircraft to and from key destinations, such as the USA, Middle East and Asia.
The additional capacity would see airport-facilitated imports more than double between 2019 and 2038, to 161,500 tonnes, according to socio-economic studies commissioned by London Gatwick.
A report by Oxford Economics highlights that the Gross Value Added (GVA) contribution to the UK’s economy generated by these imports would increase to £9.8bn in 2038, more than twice the value in 2019, and £2.1bn higher than without the Northern Runway development.
An increase in the volume of imports will also see a rise in trade-facilitated employment across the UK. With the Northern Runway project, employment would increase to 167,500 jobs in 2038, 35,500 more than without the development.
Jonathan Pollard, Chief Commercial Officer, London Gatwick said: “London Gatwick already makes a significant contribution to the local, regional and national economies, through direct and indirect jobs, tourism and global trade opportunities.
“Many businesses and individuals across the South East are supported by having Gatwick on their doorsteps. We are confident that by bringing our existing Northern Runway into regular use – and therefore offering even more global connections – we can provide a huge boost to the region, for both people and businesses.
“These latest figures further demonstrate the substantial benefits to be gained through increased capacity and greater resilience at Gatwick.”
London Gatwick is investing in its long-term future and its planning application to bring the airport’s Northern Runway into regular use has recently been accepted for detailed examination by the Planning Inspectorate. This low-impact plan will improve resilience, reduce delays, and provide a significant boost to the national and regional economy by supporting trade, tourism and new jobs.
Members of the public, including businesses, local residents and other stakeholders, have until 23:59 on 29 October 2023 to register with the Planning Inspectorate and provide a summary of their views on the airport’s application.
NOTES
The Local Impact Assessment prepared by Oxera shows that by bringing the Northern Runway into routine use, London Gatwick will enhance the crucial economic role it plays by creating around 14,000 new jobs and injecting £1 billion into the region’s economy every year. Separate analysis by Oxford Economics explores and forecasts the wider economic benefits created by Tourism, Connectivity and Trade. Both sets of analysis are outlined in the Development Consent Order documentation that can be found on the Planning Inspectorate website.
London Gatwick is the UK’s second largest airport and is a vital piece of national infrastructure that helps drive both the regional and national economy. More than 40 airlines fly from the airport to over 150 short-haul and more than 45 long-haul destinations. The airport is focused on rebuilding and growing sustainably in the long term. It has ambitious plans to be a net zero airport by 2030 and increase capacity by bringing its Northern runway into routine use. Vinci Airports owns a 50.01% stake in the airport, with Global Infrastructure Partners managing the remaining 49.99% interest.
The world’s leading private airport operator, VINCI Airports operates 72 airports in 13 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.
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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, Delhi, Hong Kong, London, Melbourne, Mumbai, Singapore, Stamford and Sydney.
GIP has approximately $100 billion in assets under management. Our portfolio companies have combined annual revenues of approximately $80 billion and employ over 100,000 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.
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