Birmingham Airport has announced a £2 billion draft Master Plan to take the airport to a capacity of 30 million passengers, generating an additional £3.6 billion gross value added for the West Midlands region and creating over 50,000 new jobs with 3,800 on site at the Airport.
Over the next 15 years, the draft Master Plan identifies how the airport can best utilise its existing runway capacity, alongside enhanced passenger facilities and improving surface access. The plan also looks at how the airport can deliver more for communities living closest to the Airport, as future growth is delivered responsibly and sustainably with proactive community engagement at its core.
The airport has expressed their commitment to continue to serve the region and its communities, however, the announcement comes alongside a plea to the government: for this growth to be deliverable, a stable taxation environment is fundamental to incentivise long term shareholder investment and returns. This appeal comes after a number of English airports face continued uncertainty around valuations, which have already seen the doubling of a business rates bill at Birmingham Airport.
The first phase of development could start next year, with significant capital investments made in areas including baggage facilities, reconfiguration and additional aircraft stands, improvements into surface access and terminal facilities.
Nick Barton, Chief Executive Officer at Birmingham Airport Limited, said that, as the Midland's principal international airport, it is already facilitating and supporting trade, tourism, investment and employment in the region. He said that the ambition of the £2billion investment sends a strong signal of support and confidence in the wider region, but in order to deliver its full potential they require government support.
Transport Secretary, Heidi Alexander said that the UK government is backing the aviation sector to continue growing, right across the country, and that Birmingham Airport’s Masterplan will be a massive boost to the West Midlands.
Richard Parker, Mayor of the West Midlands said that the ambitious plan is set to bring thousands of new jobs, better international links, and unlock vital backing for local businesses and supply chains.