Farnborough Airport in the UK has been found to surpass all previous expectations in terms of its economic impact. A study commissioned by the local Rushmoor Borough Council found that over the last decade the airport has had a significant impact on the prosperity and success of the local area, with total employment directly and indirectly associated with the dedicated business aviation hub growing by 57%. In addition, the value generated in the production of goods and services (Direct Gross Value Added – GVA) has increased 63%, while for every 100 air traffic movements the airport was found to support 10 jobs and generate approximately £0.5 million GVA.
“We are proud of our long-standing history of contributing to the economic wellbeing of the region,” said Simon Geere, CEO of Farnborough Airport. “Creating jobs, which are resilient in times of change, is core to what we do. Through continued investment, we plan to support the creation of many more jobs and further economical growth.”
Ongoing investment in the airport’s infrastructure include the construction of the new £55m hangar Domus III. At present the airport has more than 70 tenants, putting it at the heart of a dynamic and fast-growing aerospace and aviation industry cluster.
