The Aerohub Enterprise Zone and airport now support over 550 jobs and contribute over £22 million (€27.7 million) to the local economy.
The news comes after Communities Secretary Eric Pickles announced the 24 government-backed Enterprise Zones across the UK had generated over £2 billion in private investment since opening for business.
A number of major businesses, including Apple Aviation, Classic Air Force and CIS, have already relocated to Aerohub.
The Bloodhound Supersonic Car project is also based at the airport for stages of its UK testing over the coming two years ahead of its land speed record attempt in 2016.
Bristow Helicopters will use Aerohub as a base when its 10-year contract to take over the UK’s Search and Rescue operations commences in 2015.
Julian German, Cornwall Council portfolio holder for economy & culture, says: “The Enterprise Zone has been hugely successful since its launch, both in terms of enhancing Newquay Cornwall Airport’s business diversity, but also by opening the door to both fast-growing local projects and international businesses to work in an aerospace-focused environment geared towards maximising potential and reducing barriers to business growth.
“Aerohub has not only created a significant number of local jobs, but also underlined the development’s reputation as the best location in Europe for aerospace businesses.”
The 280-acre Aerohub site is based at Newquay Cornwall Airport, which has one of the longest runways in the UK of 2.7km, meaning it can support aircraft of any size as well as offer direct access to the North Atlantic and the growing Eastern markets, and is adjacent to the largest development site in the South West.
In 2013, Newquay Cornwall Airport handled more than 174,000 passengers, up 5% on 2012.