A new enterprise zone in Kent, where companies will not have to pay business rates for five years, will give investors and businesses “a great platform to grow and develop”.

The North Kent Enterprise Zone came into being on April 1, giving firms which move into the area discounts of up to £55,000 a year on the commercial property tax for five years.

It covers three parts of the county: Ebbsfleet Garden City, Kent Medical Campus near Maidstone and Rochester Airport Technology Park.

However, the first businesses are not expected to begin moving in until next year, with each project far from complete.

More than 600 homes have been started in Ebbsfleet in the last year while the Kent Medical Campus is so far home to just KIMS Hospital, which actually sits outside the zone boundary.

Rochester Airport Technology Park is yet to be developed, although £3.7 million of government funding was announced for the scheme in February.

It is the second enterprise zone in the county, following the success of Discovery Park in Sandwich.

The former Pfizer research site has been turned into a business park which is home to around 150 companies employing 2,500 people.

Christian Brodie, chairman of South East Local Enterprise Partnership (SELEP), said: “We will use the experience gained in the local area in developing and managing the Enterprise Zones at both Discovery Park and Harlow in Essex to help North Kent succeed.

“Each site is unique and we have much to offer growing businesses in our area.

“There are very real incentives and benefits to business in locating here and we hope to spread the word far and wide and attract growing, ambitious companies to this superb location with outstanding connectivity and networks on offer.”

Over the next 8-10 years it is estimated the NKEZ will generate around 9,000 new jobs and boost opportunities for highly skilled employment in North Kent.

Paul Wookey, chief executive of Locate in Kent, said: “The development of the North Kent Enterprise Zone will give investors and businesses a great platform to grow and develop.

“Strategically located, the zone offers a wealth of opportunity and places the three key sites firmly on the Kent business map.”

The zone is among 12 which went live across the UK this month.

Local Growth Minister Andrew Percy said: “Our modern industrial strategy is about creating the right environment for businesses to grow. The 12 new enterprise zones will help make sure this happens across the country.

“The North Kent Enterprise Zone will build on the area’s expertise in manufacturing, medical research and engineering to attract businesses to the area.”