FIA awarded £2.5m Enterprise M3 funding
The funding will allow FIL to embark on the first phase of its ambitious site development plans that will maintain the status of the Farnborough International Airshow (FIA) as a major global trade event and open up the venue outside the biennial show for other exhibitions and events.
Subject to the necessary due diligence and approvals, the £2.5m funding will kick start phase one of the long term site development project and will see the construction of some 40 new permanent business and hospitality chalets (A Row) primarily used during Farnborough International Airshow. Currently, the chalets are erected and fitted out on a temporary basis which is increasingly uneconomic under increasing demands to create the world-class facilities that customers expect. Construction is due to commence this autumn ready for FIA2014.
Speaking about the funding, Geoff French, chair of the Enterprise M3 Board said, “The aviation industry has played a significant role in the prosperity of the region over the last 100 years with the Farnborough International Airshow at its heart. The event has a significant economic impact throughout the M3 region and across the wider UK and this development will further build on this success.”
Shaun Ormrod, chief executive of Farnborough International Ltd, added, “This funding is a really significant step in the delivery of our strategic vision for the Farnborough International Airshow. The developments will not only create world-class facilities for our aerospace customers during the airshow, but also a unique exhibition and event venue in the South East stimulating new business , employment and growth for the region. We are grateful for the commitment and support from Enterprise M3 and very excited to be able to offer our clients these new options.”
