Edinburgh Airport reveals plans for new business expansion
The new development would also potentially have a residential area.
Edinburgh Airport is set to create a new business and residential hub.
Plans show that the new development will be created where the secondary runway currently stands.
Developers hope that the new build will help boost the economy in the west of the city.
The airport has said it is too early to tell how much the development will cost, but early reports suggest that £10m has been set aside to spend on infrastructure upgrades.
At least 35 hectares adjacent to the A8 and the Gogar roundabout has been earmarked for the project.
Officials say longer term plans for a fresh runway running parallel to the existing one remain in the works despite this announcement.
Gordon Dewar, chief executive officer of Edinburgh Airport, said: "We have long believed that the land around Edinburgh Airport is a valuable strategic asset, from which local communities and the economy should benefit.
"This venture will accelerate that process and we look forward to working with John Watson and his team, and the Scottish Government and City of Edinburgh Council, to promote opportunities to put the land to good use."
John Watson, chief executive of the new development company and a former chief commercial officer of the airport, said: "There is a really great opportunity in the west of Edinburgh, to build infrastructure from which future generations benefit.
"We will be investing significantly in the land opened up by the closure of the second runway and will work with other developers in the area to promote the wider opportunity we believe exists."