CTV London has learned that close to 1000 jobs could soon be created as part of a plan by Woodstock to expand its boundary near the Toyota plant.

"The future has never been brighter for the city of Woodstock," says Woodstock mayor Trevor Birtch.

His face was beaming knowning the news that a significant employer has targeted his city.

He won't say how many jobs could be coming, but a source tells CTV London the number approaches 1000.

But for it to happen, Woodstock and neighbouring Norwich Township must act fast.

Birtch says Woodstock must annex more than 1400 acres of Norwich Township, south of the Toyota plant, and surrounding the 401 and 403 to complete a deal.

"There has been some interest from a large players that would definitely benefit our entire region," says Birtch.

Birtch says negotiations are advanced behind the scenes.

Birtch says Woodstock continues to benefit from an industrial boom and that large parcels of development land are needed now for growth.

"I believe there would be some very quick announcements," he adds.

If annexation goes through, Birtch says a portion of taxes received from any new factories or otherwise, will be shared with Norwich Township.

If it doesn't, he fears everyone loses.

"If this does not happen, this could go to another jurisdiction, maybe south of the border and not here in Ontario," laments Birtch.

A public meeting has been set to discuss the boundary changes.

It will take place on June 29 from 6 to 8 p.m. at the Oxford Centre Hall in Norwich Township.

Birtch says if approved as expected, the plan would go to the province for approval before the end of this year.