Some of the structures put up for the Farnborough Airshow will stay on site and will be marketed as an ideal venue for exhibitions, trade shows and hospitality events.

The project, called Space Farnborough, is a joint venture between show organisers the Society of British Aerospace Companies (SBAC) and De Boer Structures, which owns the temporary buildings.

They say they already have several prestigious clients lined up and expect the location and convenience of the site will help the project snowball.

The launch of Space was announced in a press conference at the Farnborough Airshow on July 26.

It followed months of behind-the-scenes negotiations between De Boer and the SBAC in consultation with Rushmoor Council.

Rushmoor would need to give planning permission for each event.

De Boer owns and constructs the buildings for the airshow, which it claims make up the biggest temporary structure in the world.

Only a fraction of the airshow buildings would remain on site — some 75,000 sq metres — but more could easily be added for bigger shows and exhibitions.

If it takes off, Space will have a huge impact on the local economy and infrastructure.

Hotels are already over-stretched and more could be built to cope with the extra demand. Jobs will be created in the catering and service sectors, although mainly on short-term contracts.

But the news could raise questions about the impact on the local community. Space's managers insist traffic will be minimal since most would be out of peak hours, and all parking would be on site.

Although De Boer's managing director Jeremy Perkins did not expect much disturbance, he would not categorically rule out a pop concert.

"I can't assure that would not be, but everything would be subject to its own planning permission," he said.

He said Space would not be in direct competition with other exhibition sites in the country because it would be unique.

He said its flexibility and great transport links — business people would be able to step off a plane, attend a trade launch and fly home a few hours later without having to use a public road — would be Farnborough's main selling points.

It is also halfway between London and the south coast.

Space Farnborough will not reveal the names of its target customers, but exhibitors frustrated by the logistical nightmare of running shows in London are bound to be interested in what it has to offer.

Barbara Bryant, chief executive of the North Hampshire Chamber of Commerce and Industry, was one of the guests at the launch.

She believes the project will be a shot in the arm for local business.

"There's no doubt this will have huge spin-off benefits and will help put Farnborough on the map.

"If it's a success then something will need to be done about hotel accommodation in the area."

Our picture shows the main exhibition hall at the Farnborough Airshow, which is set to remain at the airfield and may attract major events to the town.