Leading businesses are already inquiring about moving on to the new multi-million pound Darlaston Enterprise Zone, which will create thousands of new jobs in the area by 2015, council bosses said.
There has already been initial interest from several firms and more enquiries are expected to be made within the next few weeks once marketing of the site is started around the country.
Walsall Council is now finalising what types of companies will be based there – ruling out retail but giving the nod to offices, light industry, distribution hubs and warehouses.
Council leader Mike Bird added that those firms would not require planning permission to set up at the site in Darlaston Road.
"We are gearing up to market the site and things will really start to move in December," Councillor Bird said.
"We are currently working out what types of businesses can be based there. We are figuring out what's in and what's out. We are planning no retail or mineral reclamation enterprises but yes to offices, general industry and warehouses and storage.
"These businesses would not require planning permission – but all of this this needs to get the backing of the full council in December.
"We have already had some interest and it will all take a massive step forward once things are agreed by the council in December."
The site, the former IMI James Bridge copperworks, was declared an Enterprise Zone by the Government earlier this year, along with the i54 site on the border of Wolverhampton and South Staffordshire. The zones offer relaxed planning laws, a business rate holiday and superfast broadband to companies. Jaguar Land Rover has already signed up to the Wolverhampton site.
The Darlaston site was chosen due to its excellent transport links with the M6.