This follows a commitment by the UK Government to create Investment Zones which will “drive growth and unlock housing”.
Pieces of land around the operational airport has been earmarked as one of four sites comprising the proposed Central Gloucestershire City Region Investment Zone. If successful, this Investment Zone would benefit from:
- a more streamlined planning permission process to allow decisions to be made more quickly
- tax incentives over 10 years, including 100 per cent relief from business rates and stamp duty land tax relief for land or buildings bought for the use or development for commercial purposes, and for purchases of land or buildings for residential developers
- prioritised infrastructure funding to ensure the potential of the Investment Zones can be unleashed
Plans to deliver 650 new homes and 21 hectares of employment in proximity of the existing on-going airport operation would support and complement the airport’s long term strategy to drive investment into the wider operation and cement its status as a ‘gateway’ for significant economic growth across the region.
Karen Taylor, Gloucestershire Airport’s managing director, comments: “If the bid is successful, these new homes and employment opportunities would complement what we’re already doing at the airport – working to create a thriving and dynamic hub of regional opportunity.”