Neighbours are to be asked how they want Banbury to look in the next two decades.
Planners want to draw up a masterplan outlining how people want the town to develop.
The plan will cover developments such as shops and roads, but also issues including education.
It will be used to inform decisions on planning applications taken by Cherwell District Council.
A similar 10-year exercise in Bicester led to the major redevelopment of the town centre which is currently under way.
Oxfordshire County Council’s Kieron Mallon said: “We are in a fortunate position in that a lot of businesses want to relocate to Banbury.”
Mr Mallon, cabinet member for policy co-ordination, said: “It will mean we are singing off the same hymn sheet.”
It comes after two retail park plans – one for near the junction 11 of the M40 and another at Kraft Foods – were announced. The schemes have raised concerns among traders that the developments would suck trade from the town centre and threaten a plan for the Bolton Road area.
The Bolton Road plan would bring a 24-hour supermarket and bigger retail units to the town.
A decision on the junction 11 site – which motorsport firm Prodrive is vacating – is expected next Thursday.
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