Businesses in Gravesham and Dartford are set to receive a £20 million boost in a package of funding to support new investment and new jobs across North Kent.

Ministers announced today that TIGER – Thames Gateway Innovation, Growth and Enterprise – is one of 130 schemes to receive money from the government’s £2.4 billion Regional Growth Fund.

The Thames Gateway stretches from Dartford in the west to Swale in the East.

TIGER will offer low-interest loans to businesses investing in new products and services which it is hoped will create long-term job opportunities.

The new scheme has been secured following a bid to the Regional Growth Fund by Thames Gateway Kent Partnership and Kent County Council.

KCC leader Paul Carter said: "TIGER is a great opportunity for businesses with the appetite for investment and growth. Business will be the backbone of North Kent’s economic recovery – and TIGER will help to unlock its potential".

Thames Gateway Kent Partnership chairman Rob Bennett said: "Government backing for TIGER is a huge vote of confidence in the Thames Gateway – one of the UK’s most important economic growth areas.

"Coming on top of recent investment in transport and infrastructure, it’s another reason why the Gateway is a great place to grow a business"

Regeneration and economic development boss Cllr Mark Dance said: "Success in securing TIGER comes just weeks after the announcement of the opportunity for massive investment in North Kent with the Paramount development at Swanscombe.

"It’s fantastic news for jobs and growth in the Gateway"

Following the announcement, work will now begin to secure the investment, with the TIGER scheme likely to be up and running in April next year.