Thousands of new jobs will be created over five years, and opposition leaders say it is "about time" Watford saw some kind of recovery.

Elected Mayor Dorothy Thornhill and her cabinet expect more than 9,000 jobs to be created in the town during forthcoming major projects.

The new plans, laid out in Watford Borough Council’s new economic development strategy, which will cover the period between 2015 and 2020, include a £150 million transformation of Charter Place in 2017 to create extra retail and leisure space and a new IMAX cinema.

The £284.4 million extension of the Metropolitan Line to Watford Junction Station is also set to begin this year as well as the regeneration of Watford Business Park.

The new plan will explore issues such as how to deliver new homes, particularly affordable housing, for the borough, and how to further develop Watford’s job market.

Watford Labour Councillor Asif Khan said: "It’s about time we saw some kind of recovery.

"Many Watfordians are struggling at the moment.

"It was her [Dorothy Thornhill] coalition government putting families across Watford in a lot of misery."

Watford MP Richard Harrington said he hoped Watford would become one of the biggest growth spots in the United Kingdom.

He said: "I’ve worked very closely with Watford Council on the growth forecast and I think the council’s forecast for jobs is very reasonable.

"It’s been a good year for jobs and there’s been lots of people moving to Watford - success breeds success.

"A problem we have in the future will certainly be to find more residential and business space."

Elected Mayor of Watford Dorothy Thornhill said Watford has fared "exceptionally well" through the recession and is now in a very strong place commercially as the economy gathers speed.

She added: "At 8.4 square miles we are a very small borough, but we punch above our weight.

"It’s a great time to be a Watfordian and people are now beginning to see evidence of the town’s accelerating progress.

"We have worked extensively to involve as many people as possible in developing our new Economic Strategy: residents, business, investors and wider stakeholders.

"We would like to thank everyone whose views and comments received have helped us shape our plans."

One of the aims of the 2010-2015 strategy was to boost the number of jobs in the town from 51,500 to 54,000.

By 2014 the number of jobs in Watford rose to 56,800. The new economic development strategy will be discussed at a cabinet meeting on Monday at 7pm.