The last year has seen the Oxfordshire economy firmly back on track. The credit crunch and double dip recession are now behind us — although plenty of painful lessons have been learned — and we can look forward to another 12 months of hopefully sustainable growth.

This is the fifth year we have run the Top 100 Employers survey and over that time the public sector employers have declined while private companies have jostled for position in the upper reaches of the table.

Significantly, this year has seen a change at the top for the first time.

When we started the Top 100 Oxfordshire County Council had 22,000 members of staff. Now it has under 16,000 meaning 6,000 people have either moved on or retired.

As a result, it has slipped to second place, replaced by Oxford University.

The dynamic is slowly shifting. While the university will continue to have a huge influence on the county economy, more and more private firms will be responsible for employing increasing numbers.

The county has always been highly entrepreneurial and now the recovery is fully underway this trend is accelerating.

Significantly, this has been recognised by central government.

Rather than thinking Oxfordshire is quite capable of looking after itself, there has been major investment in key areas particularly in hi-tech science-related businesses which are mushrooming around established locations such Culham and Harwell.

Key to this has been the introduction of the Science Vale Enterprise Zone. This status has meant more firms have been able to establish themselves more quickly.

Elsewhere in this edition of In Business you will see Milton Park has filled two speculatively constructed buildings with small, hi-tech firms leading to the creation of 50 jobs.

Such businesses are small in comparison to those in the table but it may not take long before they too start to figure.

One company has gone from being a tiny start-up just a few years ago to become a major player, rising through the ranks of the Top 100 consistently over the last five years.

Audley Travel, a specialist travel operator based in Witney, now employs 312 staff, up from 168 this time last year. That has propelled it from 88th position in 2013 to 51st which is remarkable.

Other major movers include Bicester-based fruit and vegetable wholesaler Fresh Direct which has more than doubled its workforce to 1036, continuing its meteoric rise up the table.

It is also encouraging to see more traditional employers such as hi-tech engineering firm Oxford Instruments displaying solid growth, adding 70 new staff to give the company based at Tubney Woods, near Abingdon, a total headcount of 300.

And who could ignore that bellweather of the county economy, the Cowley Mini plant?

With 4,000 employees now and a new model just launched on the back of a £750m investment by parent company BMW, Oxford’s great tradition as a car maker is in rude health.

Without doubt Oxfordshire is starting to thrive once more. Investment is pouring in and jobs are being created which inspires great confidence in the economy.