COUNCIL bosses today insisted that Burnley was booming - despite the fact that the town has lost 3,000 manufacturing jobs in five years.

According to Paul Gill, the council's economic development officer, Burnley is to benefit from over £90million pounds worth of investment in the coming years, and such developments like the Oval project will build on the multi-million pound investment the borough has seen in the previous five years from chain stores including TK Maxx, TJ Hughes and supermarket giants Tesco.

He said: "The £50million Oval development will provide in excess of 300,000 sq ft of retail and leisure space, including space for major department stores.

"Also the Weavers Triangle is currently subject of a masterplanning exercise designed to rejuvenate this historic industrial area through the introduction of a mixed-use development, including public sector, service sector, business and housing uses."

Yesterday the Lancashire Evening Telegraph revealed how the borough had lost nearly a quarter of its manufacturing jobs since 1999 after the closure of factories including Papermac and Michelin.

However, in the same period Mr Gill said over 3,300 jobs had been created with the development of industries at a number of sites including the Network 65 Business Park.

Smiths Aerospace, based at the site next to the M65, recently secured a £40million contract to supply post-production engine components over the next five years.

Other developments include the Shuttleworth Mead Business Park, opened in 2001, the Information Computer Technology and Innovation Grant Programme, which has given financial assistance to over 60 businesses in the last two years, and several companies relocating to the borough, including Glen Dimplex who established a national distribution centre on Network 65 in 2003.

And more job opportunities are to be created when the Lancashire Digital Technology Centre opens on the former Michelin site in January and the new £21 million health and leisure centre opens on the former St Peter's car park in June.

Councillor Andrew Thatchell, executive member for regeneration and economic development, forecast a bright future for Burnley.

He added: "Things are really taking off and this is a very exciting time.

"There are a lot of developments and changes occurring in the borough which will lead to great employment opportunities."