Developers who have taken over the former Pfizer site in Sandwich are predicting a science and technology boom of up to 6,000 new jobs.
Plans have been revealed today to generate 3,000 jobs at the former Pfizer site in Sandwich, Kent.
Just over a year ago Sandwich was hit by the news that its biggest employer, Pfizer wanted to leave.
Flood defence work has started in Sandwich to protect homes and businesses on the former Pfizer business park.
Some areas of Sandwich currently have a one in 20 chance of tidal flooding every year. The new scheme is intended to improve and raise defences on the banks of the River Stour.
Cllr Paul Carter, the leader of Kent County Council, and Andrew Pearce from the Environment Agency, explained why the scheme was so important.
The £20 million flood defence scheme will reduce the risk of tidal flooding to Sandwich and Stonar Loop. Currently there;s a 1 in 20 chance of tidal flooding for some properties in the area. The new tidal defence scheme will provide a 1 in 200 standard protection to more than 500 properties.
Work to protect homes and businesses from flooding gets underway today. The Sandwich Town Tidal Defence Scheme will affect 488 homes and 94 commercial properties. It's got backing from the Environment Agency, Kent County Council and Pfizer.
Details of the 3,000 new jobs which could be created at the former Pfizer site in Sandwich are to be revealed today. The Discovery Park Limited consortium bought the site in August. Council and business leaders will attend a media conference in Thanet today.
A new company says it has received lots of interest from businesses hoping to move onto the former Pfizer site.
Discovery Park LTD has taken over the freehold and believes it can secure the long term future of the development.
Pfizer put the site up for sale last year as it announced the closure of the campus in February 2011. The move put up to 2,400 jobs at risk and brought Pfizer's 57-year history in the town to an end.
Talks between Pfizer and a property developer over the sale of the pharmaceutical company's site in Kent have ended without a deal.
In January, Pfizer entered into a period of legal exclusivity with a consortium led by London & Metropolitan for the sale of the site near Sandwich. But the two parties could not agree commercial terms. A spokeswoman for Pfizer said discussions had begun with new interested parties.
£5 million will be spent on a high speed train service from Ramsgate to London, as part of a £40 million investment in East Kent. It follows the allocation of a growth fund after the loss of more than 1,700 jobs from the Pfizer site in Sandwich.