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.
More top news
Overcast and dull, with hill fog and outbreaks of rain throughout the day.
It will be a dull, damp and cloudy day for most, with outbreaks of rain. The rain will start to ease from the west during the evening.
Cloudy this evening and overnight, with mist and hill fog becoming widespread.