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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Ms Leadsom has received the backing of Ian Duncan Smith, the former work and pensions secretary.
"This was mindless vandalism at its very worst, which has wrecked a much-loved community facility."
Three people have been taken to hospital after a taxi collided with pedestrians and a lamppost this afternoon.