INVEST Essex is giving its full support to the proposed transformation of London Stansted Airport which will see a £600m revamp of the airport. The five-year plan will include a new terminal for arriving passengers and the conversion of the existing terminal into a dedicated departing passengers-only facility.
Stansted, at the heart of the London-Cambridge corridor, is crucial for the success of businesses in the East of England region – particularly so for the county of Essex. The airport is advantageously positioned for business travellers. It is seen as a core transport hub with unparalleled access to the M11 corridor with a reach of 17 million people within 2 hours and 1.2 million within 30 minutes. INVEST Essex has seen the value of Stansted at close quarters assisting several businesses to trade globally with help from the expanding airport.
“London Stansted Airport is a critical economic asset for Essex and its increasing route network is a major attraction to international companies looking to invest and establish a presence in the region. Companies have chosen Stansted because of links to serve their burgeoning European market, while growth and new business at Chesterford Research Park and Harlow Science Park will benefit significantly from new direct US links to the life science clusters centred on Boston and New York.”
David Rooke, Location Services Director, INVEST Essex
How London Stansted Airport’s expansion benefits the East
The international airport, based only 30 miles northeast of Central London, ultimately aims to increase its current passenger cap of 35m to 43m creating 5000 airport jobs in the process and thousands more in the wider region, doubling its economic value.
New, long-haul, destinations are being added on a regular basis, with Primera Air announcing new direct flights to New York, Boston and Toronto from April 2018 and Emirates launching a Stansted/Dubai service from 2018.
London Stansted Airport is ideally placed to provide global connectivity to the world-leading research institutions, including the life sciences businesses located along the London-Stansted-Cambridge corridor. The life sciences sector is heavily reliant on airport facilities, with the speed of air freight delivery crucial for ‘just-in-time’ and high value goods such as pharmaceuticals.
Since Manchester Airport Group (MAG) acquired Stansted in 2013 it has increased passenger numbers by 40% to 26mppa (million passengers per annum) through a £150 million investment into refurbishing the terminal. They now welcome nearly 10 million passengers annually. By the early 2020s that figure is expected to rise to the current 35m limit, with a planning application going in to Uttlesford District Council in February 2018 to make further use of the airport’s existing capacity.
‘We’re committed to maximising the social and economic benefits of growth in the most sustainable and efficient way possible for local residents, passengers, businesses and airline partners.’
Ken O'Toole, CEO, London Stansted Airport
London Stansted Airport’s commitment to education
As a further example of Stansted’s growth plans, the first on-site education college of its kind at any major UK airport - the Stansted Airport College – is due to open later this year.
In partnership with Harlow College, and with backing from Essex County Council, Uttlesford District Council and the South East LEP, the facility will provide 500 student places and offer courses in aircraft and airport engineering, business studies, hospitality and customer service.
Stansted’s ‘Aerozone’ already welcomes 5000 school children every year so the College will further cement its commitment to education.
For more information about London Stansted Airport see here.