Owners of Shoreham Airport in West Sussex have submitted expansion plans which could create up to 200 jobs.
The 70-year-old Grade II listed terminal building is set to be restored
The Erinaceous Group wants to refurbish the 1930s art deco terminal building as well as building a new hangar, offices, control tower and fire station.
On-site apartments are also included in the plans which were sent to Adur District Council this week.
Airport manager John Haffenden said the development would make Shoreham "unique among British Airports".
It is hoped the jobs will be created with the building of the office space and hangars which will be rented to local businesses.
The 70-year-old Grade II listed terminal building will be restored and the departure and arrival facilities, which currently take place elsewhere, will be brought back into the airport's concourse.
Mr Haffenden said: "We are incredibly excited about these plans.
"These represent a substantial investment in the airport and will help turn it even more into an aviation business and facility the local area can be proud of."