Depends if you mean "wealth" or "political capital".
The University (the best in the world, incidentally...) generates a lot of business for the City.
More business park will look like it's doing a lot even if it is just companies relocating from the City Centre or another area. There is a lot of other spaces that could be built on within the City without knocking out the airport.
Let's face it, it all comes down to land ownership. If you own the land (for a £1) then its a good investment. If you have to buy it, you make less profit.
Leeds are running a similiar course at EGSY but I heard from the fuelmaster a couple of weeks ago that they are moving out and a load of Sea King helicopters and S76's are moving in.
Perhaps Dylan can comment on the Leeds bit. It would be a pity if they were gone. More flights needed, not less.
Incidently, why, as noted in Flyer P16, has the airport been "... making substantial losses for seven years"?