The multi-millionaire owner of Coventry Airport has predicted up to 10,000 jobs could be created as a result of plans to create a £250 million economic hub on the site.

Sir Peter Rigby, who bought the airport last April, has announced a major scheme which could create up to 10,000 jobs by 2015.

Sir Peter, the chairman of Coventry Airport, is planning two complementary development projects – the airport and its infrastructure and a joint venture to develop the environment around the airport.

That will include both a technology office park and manufacturing and distribution investment opportunities – totaling more than 200 acres – alongside improving the airport’s passenger terminal and cargo facilities.

The 65-acre office park would include a new junction from the A45 – which would also be designed to cure traffic problems at the Tollbar island.

As well as developing the passenger terminal and cargo facilities, investment in the airport infrastructure would create an on-site hotel, restaurant, car parking and airside related hangarage and facilities including a new access road.

Sir Peter said the proposed development would also re-establish passenger flights which would be a major boost to the local economy.

He said Coventry Airport would be consulting with residents and businesses to integrate the organisation within the local community.

“Since we bought Coventry Airport, our management has been very much community focused and, as always, we are looking to work with the community we serve and bring jobs to the area,” he said.