The Thames Gateway is being given a cash boost

by business editor Trevor Sturgess

Businesses in the Thames Gateway are to receive a £20million boost for jobs and growth.

The Government has backed a new package of funding for new investment and jobs across North Kent and Thurrock.

TIGER – Thames Gateway Innovation, Growth and Enterprise – is one of 130 schemes nationally to receive money from the Government’s £2.4 billion Regional Growth Fund (RGF).

The latest handout follows a £35m RGF handout for expanding firms in East Kent. The announcement comes just days after London Resort Company Holdings unveiled plans for a £2bn Paramount theme park on Swanscombe Peninsula creating 27,000 jobs.

TIGER will offer low-interest loans to businesses investing in new products and services that will create long-term job opportunities. The aim is to unlock additional private sector finance.

The news is a coup for the business-backed Thames Gateway Kent Partnership which made the bid.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 set up and grow a business”

Paul Carter, leader of Kent County Council, 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”.

Rodney Chambers, Medway council leader, said: “This is a significant endorsement from the Government of our approach to regeneration and it clearly shows we continue to be a place where businesses are welcome and can grow with confidence.

“We look forward to working across North Kent, and with colleagues in Thurrock, to help as many local businesses as possible benefit from this funding so that it creates more local jobs in the shortest possible time.”

The TIGER scheme expected to be up and running by next April.