After six months of preparatory work by a taskforce from both the public and private sectors, London Gatwick has launched the UK’s first airport economic zone. Centered in the region surrounding London Gatwick, the Gatwick Region Airport Economic Zone (AEZ) represents 7% of the UK economy – £155bn (US$195n) in gross value added (GVA).
Airport Economic Zone
According to the airport, 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 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.
Branding
A new brand was also launched to accompany the AEZ. The new brand is intended to create a unified, recognizable identity for a region covering West Sussex, East Sussex, Brighton & Hove, Surrey, Croydon and Kent. This region is home to universities and industry clusters including aerospace, clean energy, life sciences, creative industries and advanced manufacturing. However, the AEZ’s boundaries will remain flexible, enabling it to adapt and support growth opportunities in neighboring areas.
Launching the new Gatwick Regional AEZ, Stewart Wingate, chief executive of 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 Southeast and provides seamless access to both global and domestic markets. Forming the Gatwick Region AEZis part of our future plans to deliver economic growth and give the region a powerful single voice and recognizable identity to help unlock new investment, trade and tourism opportunities.”
In related news, London Gatwick recently ruled that passengers traveling through the airport no longer need to remove electrical items or place liquids in plastic bags. Liquids can be taken through security in containers of up to 100ml in volume. Click here to read the full story