London Luton Airport invests £70 million in local economy

image credit: London Luton Airport

London Luton Airport’s (LLA) has announced today that it has injected £70 million into the local economy.

More than half of London Luton Airport’s (LLA) supply chain spend went to businesses within a 25-mile radius last year, with an increasing number of local companies joining the airport’s supplier list.

A total of £70 million was shared among 252 local businesses in 2023, amounting to 53% of all supply chain spend.

The biggest proportion, £44.7 million, was spent with 125 businesses in Luton and Bedfordshire.

LLA actively encourages local suppliers to bid for airport contracts and organises a number of events each year to engage small and medium size enterprises.

An additional 95 local suppliers were added to the books in 2023, an increase of 60% compared to the previous year.

Alberto Martin, CEO at London Luton Airport commented: “As one of the largest employers in Bedfordshire, and a major driver for the local economy, London Luton Airport has always placed great faith in local people and businesses.

“Last year, more than half of our supply chain spend was allocated to works, goods and services provided by neighbouring businesses, underlining the strength of our commitment to the region.

“Our plans for responsible and sustainable growth are intrinsically linked to the wellbeing of the local economy and our aim is to continue to invest in the local supply chain, developing our relationships with both existing and prospective suppliers.”

Justin Richardson, Chief Executive of the Bedfordshire Chamber of Commerce, commented: “London Luton Airport is one of our region’s most important assets, playing a pivotal role in the local economy.

“Its importance to many hundreds of businesses across Bedfordshire cannot be underestimated.

“As well as providing thousands of direct and indirect employment opportunities to local people, the airport is a catalyst for economic opportunity and growth across an extensive local supply chain network.”

Paul Kehoe CBE, Independent Chair of Luton Rising, the Luton Council company that owns the airport, said: “Maximising the local and regional benefits of London Luton Airport is our absolute priority, so this achievement by the airport operator working with surrounding businesses is fantastic news.

“As airport owner, this support for neighbouring businesses is just part of our unique social impact offer.

“Over the last 20 years, Luton Rising has contributed more than £480m to frontline services in the town and the vital voluntary, community and charitable organisations who support and improve the lives of people who most need our help.

“As part of our plans for the future long-term sustainable growth of the airport, we are committed to continuing to work closely with all our partners to deliver even greater benefit in the years to come.”