“Airports serve as incredibly effective places for business” says Lynda Shillaw, the CEO of MAG Property. “They are natural hubs, creating connections between people, places and the businesses that locate there”. Bournemouth is one of MAG’s four international airports and helps to fuel the success of Dorset’s and the wider region’s economy. For the complete picture please read Lynda’s article below which was issued today by Insider News Media.
Roger Mundy, Managing Director, Beardsley Theobalds, 17th October 2017
Business Matters : Why airports are crucial to the future of the economy
MAG Property CEO Lynda Shillaw explains why airports like Bournemouth serve as more than just transport hubs.
Hear the word airport and certain things spring to mind: Planes, holidays, business trips, duty free and tourists, all framed by somewhere that, more often than not, people travel through, not to.
With over 250m passengers using UK airports each year, it’s an easy association to make, but with a great proportion of airport turnover generated by commercial activity in the B2B sector, airports are home to a thriving network of diverse operations, all benefiting from the unique location they’re in.
For those involved with aviation the upsides are obvious. But it’s not just access to airside facilities that make airports useful places to operate. Increasingly, they’re commercial destinations in where people choose to do business.
Airports serve as incredibly effective places for business; they are natural hubs, creating connections between people, places and the businesses that locate there. Their strategic locations ensure access to a wealth of skills and talent, in an environment where direct access to local, regional and global transport comes as standard, alongside a combination of benefits difficult to find elsewhere. Self-contained, compact, accessible and incredibly secure, they provide a level of convenience and amenity more commonly associated with a city centre.
Because of this, airports are home to some of the world’s leading organisations. By making this choice they can enjoy the credibility of a prestigious address, as well as all the opportunities afforded by locating amongst a range of like-minded businesses.
Moreover, airports are vital to the success of UK plc and their importance is reinforced by their position as kingpins of inward investment, tourism and trade. In addition to passenger numbers, they handle more than 2m tonnes of freight annually, provide 960,000 jobs and contribute around £52bn GVA to the economy.
MAG’s four international airports, Bournemouth, London Stansted, East Midlands and Manchester play a pivotal role in this success by contributing £7.1bn to that total. Clearly, the 100 plus airlines now flying more than 1,000 aircraft into these airports each day mean passengers and freight are crucial to the wider economic benefits they create; but it’s the ability of airports to fuel the success of a region’s economy in other ways that makes them so important.
Dorset already serves as an attractive base for both employers and employees, with large organisations like BNY Mellon Barclays, JP Morgan Chase, Coutts, and Nationwide choosing to locate here. This strong multi-national presence is set to increase as new developments around the county provide a greater choice of location. Crucial to this growth is Aviation Business Park at Bournemouth Airport, which presents one of the most significant opportunities in the south of England.
As well as operating as a commercial and private transport hub for the south coast, it’s the largest employment site in Dorset where over 200 businesses including Cobham, Meggitt, Babcock International Group and Honeywell occupy bespoke property designed to help them deliver their specific products and services. Most recently, AIM Aviation completed their £11m advanced manufacturing facility, as well as Curtiss-Wright who moved into their brand new 160,000 sq ft manufacturing unit.
Its significance within the region as a specialist aerospace and manufacturing location is reinforced further by the Dorset Local Enterprise Partnership and Bournemouth International Growth Programme investing £40m to improve transport infrastructure around the airport and business park, as well as supporting businesses in the area through skills development, simplified planning and business support.
For occupiers wanting to take advantage of investment like this, our airport property expertise means we can unlock the growing potential of locations like Bournemouth Airport. In doing so, they can enjoy all the benefits and opportunities of being based at an airport site, in a thriving region where collaboration between the public and private sector can help secure their long-term future, as well as that of the region and wider economy.