A new report by CBI Economics has revealed that Farnborough Business Airport adds a significant annual boost to the UK economy.
Business aviation flights from Farnborough Business Airport, situated just 5 minutes away from our managed office space at Westmead House, contribute £1.9 billion of gross value added (GVA) to the UK economy every year.
The report also states that 23,000 full-time equivalent jobs result from the economic opportunity created by the airport.
80 per cent of the flying activity from Farnborough either directly or indirectly supports UK business and inward investment. The report suggests that most flights are essential and time-sensitive with high economic impact.
An article in Hampshire Biz News reports that the latest figures come following an economic assessment submitted to Rushmoor Borough Council as part of the airport’s planning application to increase its annual flights from 50,000 to 70,000.
That report found that the local impact of the Airport includes supporting 2,600 jobs and an injection of £170 million of GVA into the area’s economy each year. This contributes to making Rushmoor one of the fastest growing local authorities in the UK.
Simon Geere, CEO at Farnborough Airport, said: “These latest findings from CBI Economics support what we have been saying for some time, that the role of business aviation in driving inward investment and creating economic opportunity within the UK is both significant and demonstrable.
“Farnborough Airport in particular, with its well-invested infrastructure and available runway capacity, has a critical role to play in supporting economic growth going forward, both at a local level and also across the wider UK.
Geere also highlights how Farnborough Airport’s use of smaller, lighter aircraft means its environmental footprint is “a fraction of that of a traditional commercial passenger airport, yet our economic output relative to our size is completely unsurpassed.”
Offices to rent in Rushmoor
Be a part of the vibrant business community in Rushmoor at Westmead House. Our functional and affordable managed office space is ideal for ambitious, growing businesses or equally those looking to downsize to support hybrid working.
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