A new innovation park which could bring up to 1,300 jobs to Medway has been launched – with businesses said to be ready to move in by the end of next year.

Medway Council believes Innovation Park Medway – based at Rochester Airport – will be its “flagship regeneration site”, attracting high-quality technology, engineering and manufacturing companies to the Towns.

At a launch event today, leader Cllr Alan Jarrett (Con) said the 100,000 m2 site would complement the area’s existing economy as well as its higher education provision.

He said: “We’re looking for businesses that bring innovation, high-value jobs – so there won’t be any warehouses or distribution centres.

“There will be the maximum number of businesses we can get onto the site, and we anticipate anything up to 1,300 jobs being provided once it’s built up.”

The council are said to already be in discussions with interested parties, with Cllr Jarrett suggesting the facility could welcome its first tenants by next autumn.

He added: “The Local Development Order (LDO) and masterplan will come through together in early mid-spring next year and once they’re in place, we’re all good to go.

“We have the funding to provide the infrastructure for the first phase of phase two, so there is nothing to hold us back as far as I can see.”

Innovation Park Medway will be part of the North Kent Enterprise Zone, meaning firms will benefit from business rate discounts of up to £55,000 annually for five years.

Those wanting to be based at the park will be “vetted” to ensure they want to play a long-term role in growing the local economy, rather than just for the financial incentives.

Richard Hicks, the council’s deputy chief executive, told invited guests: “The benefits for businesses to locate here cannot be overstated.

“It’s absolutely critical for them that we are ensuring they have the right environment to thrive and prosper – being a part of the North Kent Enterprise Zone is very much a part of that.”

In June, publicly-funded South East Local Enterprise Partnership (SELEP) agreed to £4.4 million for reconfiguring the airport site, which most notably did not include the provision of a controversial hard-paved runway.

The phase will help free up land for Innovation Park Medway, which itself has provisionally been allocated a further £3.5 million.

Speaking at her first event since being made small business minister, Rochester and Strood MP Kelly Tolhurst (Con) said she was delighted the vision was now starting to take shape.

“The airport was under massive risk of being lost, but the council has ensured it does stay and has a long and prosperous future,” she added.