The company trying to build 2,500 homes and a business park on the former Manston airport say their plans will attract 5,600 new people, giving the area a much needed economic boost.

Three proposals for the site, under its new name Stone Hill Park, were unveiled at a press conference in Discovery Park, Sandwich, earlier today.

Bosses said they aim to submit a planning application for the £1 billion scheme in April following a public consultation starting next month.

They said their plans will create 16,000 direct and indirect jobs, initially through the establishment of a manufacturing base, which will generate salaries of £200 million a year.

They said this would result in a £48 million cash injection for the local economy based on the projected disposable income of the new residents.

Spokesman Ray Mallon highlighted the social deprivation in many parts of Thanet, with 35% of people in the district paid below the living wage.

In a shift in the argument away from jobs and towards social and economic need, Mr Mallon highlighted that 79.2% of the population lived in homes paying council tax band A to C.

He said: “There’s an imbalance that needs to be addressed. Thanet needs to increase its population to improve council tax receipts.

“The population of the area is 136,500. The working age population is due to decline by 2,700 but the population aged over 66 is due to increase by 8,500 by 2031.

“We have got to increase the working age population because the number of elderly are going up.

“That will produce economic vitality and increase growth.

“Thanet needs more jobs, higher paid jobs and more businesses.

“It is crying out for political leadership and private sector investment.”

Thanet council decided against pursuing a compulsory purchase order of the site last month, despite a long-running campaign to reopen the airport, which closed in May last year.

The public consultation will take place at the Pegwell Bay Hotel in Ramsgate on Thursday, December 3, and at the Holiday Inn Express in Ramsgate on Friday, December 4.