More than 100 business leaders turned up at a reception to show their support for the town’s bid for city status.
The summer reception was held at Luton Hoo to mark one year since the launch of the Love Luton city status campaign.
The town is one of 26 from across the UK hoping to be chosen as a new city by the Queen in 2012.
Colin Chick, Luton Borough Council’s corporate director of environment and regeneration, said: “This is really important. There are 26 other towns bidding for city status because the prize is incredibly rewarding.
“In Luton we have built up an incredible momentum and fantastic media coverage that tells an amazing, positive story about all the good things that are going on here.
“Together we have worked to challenge the reputation of Luton in certain quarters, and that has been good for business, good for Luton, good for the community, good for everyone.
“But what happens if Luton doesn’t win? We can’t afford to be downcast and we must carry on celebrating the success of Lutonians.”
As well as continuing to promote the city status bid, the Love Luton campaign will lead to a three-day Love Luton cultural festival in July 2012. Luton North MP Kelvin Hopkins opened the reception event. He said: “A year ago we could never have imagined how much support would be generated for Luton’s city status bid. “Wherever you go people see the badge and ask what it’s about, and we are proud to say we are bidding to become a city.”