BICESTER will enjoy £1.65bn in investment by 2031, according to a new report ordered by council leaders.
It states that investment such as a planned 4,300 homes – including an “eco town” – along with businesses and a town centre redevelopment is worth £183m.
And consultants Montagu Evans LLP said a total of £950m in housing and £700m in infrastructure will be coming by 2031.
Cherwell District Council had commissioned the report to look at investment since the eco town in north west Bicester was announced in 2009.
Projects include new schools, road and rail improvements, business parks, water and sewage upgrades and more to regenerate the town centre.
The homes will be built at Graven Hill, North West Bicester eco town and the new Kingsmere estate.
Infrastructure projects include a planned London to Oxford rail link via Bicester Town Station and road improvements at Oxford Road, the A41 and Pingle Drive.
The town’s fire and police stations, both in Queens Avenue, will be upgraded and there will be a new five-GP surgery at North West Bicester.
The town will also get a new leisure centre and swimming pool and an expansion of Bicester Day Centre in Launton road.
Cherwell District Council leader Barry Wood said the eco town “has repositioned Bicester on the map of England and has given it an impetus for inward investment”.
He said: “That’s what we needed to confirm with this report and that’s what it did.
“I think there’s still potential to continue to market Bicester as a location for business for the green economy.”
Investment comes from a mix of housing and commercial developers, Government grants, Oxfordshire County Council and organisations such as Network Rail and Thames Water.
Oxfordshire County Council leader Ian Hudspeth said: “This is massive investment, it’s fantastic stuff. It’s the sort of investment people have been shouting about for years and it has happened.”
It comes as eco town developer A2Dominion confirmed work would start on the first phase on April 28.
This will create a site entrance and temporary traffic lights will be in place on Banbury Road, the B4100, from May 6. The first residents are expected to move in in July next year.