The owners of Bankstown Airport in Sydney’s south west have announced a $130 million investment to transform the site into a diversified aviation precinct.

The renamed 300 hectare Aeria Precinct is envisaged as a logistics, engineering and specialist training hub, supported by a mixed-used industrial and retail development.

The airport development is backed by Canterbury Bankstown Council, which sees it as an opportunity to bring growth, jobs and prestige to the local area.

“For most locals, Bankstown Airport is seen as a place for light planes to come and go,”  Mayor  Bilal El-Hayek told a business event on Wednesday.

“A vast 300 hectare site, which not long ago was paddocks, is now being transformed into an aviation, logistics, engineering and specialist training hub, a precinct supporting 160 businesses, employing nearly six and half thousand people and generating $1.6 billion in the local economy.”

Bankstown is Australia’s third busiest airport and leading general airport.

It currently caters for most of the state’s emergency aviation services including the Royal Flying Doctor Service, the RFS, PolAir and the NSW flying ambulance service.

It also supports flying schools, charter operations, an aerospace engineering operation and development of Australia’s first “flying car”.

Multi-million dollar development plans

Aeria CEO Daniel Jarosch on Wednesday announced two major development plans worth a combined $130 million.

A $50 million investment will go towards a central aviation precinct with nine new hangars, priority VIP aircraft access and an advanced mobility technology hub, powered by renewable energy.

Mr Jarosch also announced an $80 million plan to develop a 3-hectare mixed use retail and industrial precinct including warehouses, shops, offices and a childcare centre.

Aeria Management Group, formerly Sydney Metro Airports, manages and operates Bankstown and Camden Airports on behalf of Aware Super, which acquired Bankstown in 2015.

“Today we take this opportunity to celebrate the new name Aeria for this evolving precinct,” Mr Jarosch said.

“While we are an airport first and foremost, the rebranding suggests that Aeria is making its mark in the air and on the ground.

“Aviation, industry and community working together, we are transforming this precinct into a diversified economic and employment powerhouse.”