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The government is to consider incorporating the Manston airport site into the existing Discovery Park Enterprise Zone.
Ministers have announced they will consider the expansion as part of efforts to boost jobs and investment in the area.
The idea of extending the current zone, which gives tax breaks to businesses, was floated by the former Labour administration on Thanet Council and was backed by KCC.
Enterprise Zone status was granted to the former Pfizer site after the pharmaceutical giant announced it was withdrawing most of its business from the area.
The site has been rebranded as the Discovery Park and attracted new companies to the area, among them specialists in life sciences.
As part of an enterprise zone, businesses can qualify for tax breaks, including exemptions from the business rates and low cost loans.
It is unclear at present where the zone will be extended to. It could also incorporate the Betteshanger Sustainable Parks project, a new business centre being built on the former colliery near Deal.
Announcing the news, minister Penny Mordaunt said: “Discovery Park is building a deserved reputation as a centre of excellence for science and innovation; the move will deliver an estimated 13,500 square metres of new floor space that could deliver more than 1,000 jobs.”
The announcement was welcomed by groups campaigning to retain the airport, as it could attract aviation-related businesses.
But Ukip said it was another example of the government announcing measures designed with the forthcoming election in mind.
Meanwhile, the Department for Transport has appointed an independent consultant to review Thanet council’s decision not to pursue the prospect of teaming up with a suitable indemnity partner for a compulsory purchase of the site.
The consultancy PwC has been contracted to make an assessment of the CPO and report back to the government in May.
Transport minister John Hayes said: “The independent consultancy we have appointed will strengthen the ability of Thanet District Council to find the right deal to secure Manston’s future.
“I am determined to deliver on the Prime Minister’s commitment that the government does all it can to support the people of Thanet, to create more jobs and to boost the local economy.”