THE Thanet economy has been given a welcome boost with news that work is due to start on a business park that will create up to 150 jobs.

The South East England Development Agency has agreed to put more than £3.5 million towards developing the two-hectare Eurokent Business Park off Haine Road in Ramsgate.

A further £1.2 million of European funding has been secured for the project, which involves the development of 10 units at the Thanet District Council-owned site.

Lee Amor, SEEDA’s executive director of development and infrastructure, said: "We are delighted to confirm funding for this project as part of our investment in east Kent and the regeneration of our coastal areas.

"Thanet, despite recent years of deprivation, has huge potential for regeneration and part of that needs to be the creation of jobs."

Cllr Roger Latchford, Thanet council cabinet member for culture and economy, added: "We want to create more employment opportunities for people here, as we know that is a priority for them.

"This scheme will help to provide businesses with the type of accommodation they have told us that they need to expand, so that we can provide those additional jobs."

The scheme is part of SEEDA’s wider regeneration plans for the whole of Thanet, which it identifies as a priority area for economic growth.

Approximately 35,000 sq ft of commercial floor space will be created, benefiting businesses in Thanet and East Kent which have previously been constrained by the lack of suitable office accommodation and industrial units in the immediate area.

The project will mean they will not have to look outside Thanet to find the business accommodation that they need.

It is expected to generate £5million of private sector investment in the area.