British airport Durham Tees Valley has put in a bid for more than €7.4 million of UK Government funding to develop 150 acres of land close to the airport.
The airport is seeking a share of a €1.25 billion regional growth fund from the UK Department for Business, Innovation and Skills.
The funding would provide highways and “services infrastructure”, which will enable the delivery of a development programme on land south of the airport runway.
The Southside project will take 10 years to complete and would create an estimated 1,500 new jobs, the airport said.
Peter Nears, strategic planning director for majority shareholders, the Peel Group, said the project would also help safeguard existing jobs at the airport.
He said: “There is planning consent for aviation-related employment in the Southside area and the proposal we have submitted to the Government would generate around 1,500 new jobs.
“This is a very significant project, not just for the airport, but the area as a whole.
“We’re looking at logistics-type operations. We already have some of that at the airport and we think there’s a market for more.
“There is a rail line nearby and we’re looking at connectivity.
“If the bid is accepted it will give us a better platform and more certainty of income going forward.
“We’re trying to grow the passenger base but it is a difficult market and it is a small airport.
“There’s a solid industrial base, however, so we are looking at how we can serve that and develop those opportunities.”