Thames Enterprise Park has reached a significant milestone after being given the green light last night.
The council-backed development promises to bring new economic life into the former Coryton oil refinery site which closed in 2012.
Thurrock Council says it will create up to 5,500 new jobs and add more than £350million per year to the economy, snowballing to more than £3.5billion over the first 10 years of operation.
The site will be home to advanced manufacturing and next-generation energy, fuels and storage businesses.
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Deputy Leader and Cabinet Member for Regeneration and External Affairs, said: "Thames Enterprise Park will drive decarbonisation, foster innovation and unlock countless opportunities for our residents, including up to 5,500 new jobs.
"It will also play a pivotal role in the long-term success of Thames Freeport, the UK’s leading freeport, that will see more than £4.5billion in new public and private investment with Thurrock at its heart.
"We want everyone to know that Thurrock is open for business and will be a powerhouse for the UK economy.
"We will continue to seize these unique opportunities to level-up our communities for residents who will be able to live and work in our borough, by realising the potential to introduce thousands of new jobs on our doorstep."
Plans also include opening up public access to the riverfront and improving walking and cycling routes, as well as vital infrastructure improvements incorporating river, rail and road.
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