The first tenants are preparing to sign on the dotted line to take up space at a new multi-million pound business park.

Innovation Park Medway (IPM), Medway Council's flagship business park next to Rochester Airport, has been marred by delays but council leader Alan Jarrett says two businesses are poised to sign up.

The authority hosted an event on Monday (January 30) showcasing the work which has been done so far.

The park will eventually host 30 plots for businesses, two of which will be on the southern site nearest Maidstone Road.

It is hoped the development will generate 3,000 jobs in the high-quality technology, engineering and manufacturing sector.

Cllr Jarrett (Con) said while no tenants had signed contracts to base themselves there yet, negotiations with two were "in a very advanced stage".

He said: "We have turned down a host of applications for space for plots because they don't meet our criteria.

"I'm absolutely focussed that we do match the criteria of high gross value added, high-tech jobs, and that won't always be easy getting the right people but it's essential we do get the right people and stick to the Innovation Park ethos that we developed all those years ago.

"The incoming tenants that we are on the point of signing up, they meet that brief and that's going to be our overriding concern going forward."

Contractors are expected to begin work on the southern site this summer, although infrastructure works including an access road, lights and signage have already been put in place.

Those behind the project say the first occupiers should be in by October 2024.

Last week, the council found out it was unsuccessful in trying to get money from the government's Levelling Up Fund, some of which would have gone towards the IPM project.

The authority asked for £20 million for a "Gateway building" at the site's entrance. A sum of £14 million would have been matched by the authority.

Cllr Jarrett said: "It was disappointing not to get the Levelling Up funding but we did get some in round one when a lot of others didn't, so you have to be pragmatic about these things.

"The Gateway building depends – and always did depend – on external funding coming forward so we will continue to source external funding as and when opportunities come along.

"But at the moment, the Gateway building won't proceed until we've managed to achieve that."

Speaking about delays to the project, Cllr Jarrett added: "The archaeology works delayed the project by six to nine months and cost a great deal of money.

"We are broadly on track now and we're quite excited by the progress we are now making..."

"Covid caused some delays as well; the war in Ukraine has caused price pressures, so there's a whole number of things going on.

"We are broadly on track now and we're quite excited by the progress we are now making."

The event also showcased the airport's new hangar and community hub which will eventually feature a restaurant.

The improvements were made possible by a £4.4 million investment from Medway Council.

Kelvin Carr, airport manager, said: "Hopefully it's the start of investment with the new hangar.

"It means the aircraft are being stored properly without leaky roofs and things of that nature which unfortunately in the past we've been accustomed to.

"Hopefully it will keep the customers we've got, and with future investment we will be able to sustain and remain an airport for years to come.

"The main facilities that have been generated are the hub which incorporates the restaurant area which will be there not only for the pilots, but for local residents."

Cllr Jarrett said: "Most cities would dearly love to have an operational airport, albeit, a small, local airport like this one.

"Our determination is to make sure we maintain this and develop it as and when funds become available and so far, we've made huge improvements that will stand it in good stead over the coming years."