THE booming Banbury economy is set for another boost in the next five years with a predicted 1,000 more jobs being created on top of those already announced.

Last week, the Oxford Mail revealed motorsport firm Prodrive is doubling in size and moving to new premises in the town.

Its current site is set to be redeveloped into a retail park, while hi-tech company Goodrich CTG is also developing a new multi-million pound centre of excellence for its rapidly growing workforce.

In all, it is estimated 1,000 jobs will be created as a result.

And the man who helped broker the deals reckons there are plenty more projects in the pipeline that could double the jobs tally, thanks to tens of millions of pounds being invested.

Chris White, director of Banbury-based property agent White Commercial, said: “A number of companies want to expand, particularly in the automotive technology sector.

“Large sites are suddenly becoming more important, and north Oxfordshire is the place to do business.”

Bosses at car parts wholesaler Firstline will move their 150-strong workforce from the current buildings in Bicester to a £10m purpose-built 129,000 sq ft distribution warehouse at Junction 11 of the M40 next Easter.

Chairman Peter Joyner said: “There was nowhere in Bicester that was big enough, but this will mean we can grow the business and take people on.

“We are investing £1.5m in fitting the building out and I can see us taking on between 50 and 100 more people in the next five years.”

Mr Joyner added that the struggling economy was helping the firm he set up in 1983 as people were not buying new cars, instead repairing their existing vehicles.

Other major moves in the area include the acquisition of a 45-acre site by developer Barwood and the British Airways pension fund which will be turned into one million sq ft of production and distribution facilities worth £100m over the next five years.

Known as Central M40, it is adjacent to the Firstline and Goodrich sites.

Another five-acre site, Connect M40, again at Junction 11 of the motorway, is also set to be developed at a cost of up to £10m.

And two buildings belonging to mobile phone giant Vodafone, which closed its operation on the Banbury Business Park in Adderbury last year with the loss of 400 jobs, have gone on the market.