On 24th March 2011, Manchester Airport was confirmed as the location of one of the UK Government’s new “Enterprise Zones”, with an emphasis placed on offering incentives to businesses to locate and expand in these targeted areas, in order to create new jobs and stimulate economic growth.
The Enterprise Zone is expected to benefit from a business rate discount worth up to £275,000 per eligible business over a five year period. For a period of at least 25 years, all business rate revenue within the zone will be shared and retained by the local area, to ensure that funds from the Enterprise Zone are reinvested locally. The Enterprise Zone will also benefit from a simplified planning application approach and super-fast broadband, achieved through guaranteeing a highly supportive regulatory environment.
The Enterprise Zone located at Manchester Airport, will centre on and around the development of the UK's only 'Airport City' project, which will be a high quality, mixed-use commercial community that makes full use of its location at a major transport interchange with access to rail, Metrolink, bus and road networks, as well as national and international air travel. The first phase of the development is located on land between the airport and Wythenshawe, to the north of the airport's ground transport interchange and terminal buildings.
On 6th April 2011, the Manchester City Council Executive endorsed the proposals for the Manchester Airport City Enterprise Zone – and Manchester Airports Group (MAG) will now be working alongside local authorities and other stakeholders to bring forward proposals for a definitive boundary and the required governance arrangements for the Zone as soon as possible.
MAG Developments is the property development arm of Manchester Airports Group (MAG). Established in 2001, MAG Developments is responsible for the management and development of all commercial property and land at MAG’s four airports – which includes Manchester Airport, plus East Midlands, Bournemouth and Humberside. With an investment portfolio currently valued at around £325million, MAG Developments is primarily engaged in the development of hotels, offices, hangars, warehousing, logistics and industrial business space. MAG Developments is recognised as one of the country’s leading airport property developers and has been working on the vision to deliver the Manchester Airport City concept since 2009.
Manchester Airport is the UK’s biggest and busiest regional airport, handling over 170,000 tonnes of freight and serving around 19 million passengers every year. With 65 airlines flying to over 200 destinations worldwide – including New York, Chicago, Philadelphia, Abu Dhabi, Dubai, Doha and Singapore – it is the only global gateway for the North of England. The airport is strategically located at the heart of the UK’s motorway network and within a two-hour drive of two-thirds of the UK’s population. It's integrated ground transport hub, served by bus, coach and tram, also links the site to over 100 national rail destinations and is just 15 minutes by train from Manchester City Centre. The airport is an economic hub in its own right, employing over 19,000 people and is home to more than 300 companies.