Roger Lawrence the leader of Wolverhampton City Council says the construction of i54, the new junction off the M54, is the biggest single investment in the UK in the last decade.
Jaguar Land Rover are building their new engine manufacturing plant on the site.
It is hoped that they will help to draw more businesses onto the site, creating more jobs.
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Showers are likely to break out which could turn heavy during the afternoon.
Police have made two more arrests in connection with an assault on a Watford fan after they played Wolves last month.
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