A high-powered forum of Midlands business leaders is set to step up the campaign to land a multi-billion pound deal for the region.
The think-tank will this week hear details of opportunities available if a huge Ministry of Defence training contract is awarded at RAF Cosford.
Experts at Wolverhampton University, which is among the backers of the bid, believe delivery of the new arrangements will come in at around #18 billion.
The project would be likely to be handled by a public private partnership and run over an estimated 25 years, they say. Professor Caroline Gipps, vice-chancellor at Wolver-hampton University told The Birmingham Post: "A successful bid would bring tremendous benefits to region. This is an enormous opportunity."
Academics believe a successful bid would secure nearly 2,000 jobs.
They also estimate it would lead to around 580 new civilian jobs and around 640 new jobs in the military.
Prof Gipps will outline the links between education, skills and business at the Let's Fly Cosford business summit at Wolverhampton Science Park on Thursday.
Representatives from the aerospace, Information and Communications Technologies (ICT), manufacturing and construction industries are due to attend. Among the speakers will be Sir Peter Rigby, chairman of Specialist Computer Holdings; Dr Andrew Mair, chief executive, of the Midlands Aerospace Alliance; Clive Gregory, of MC3 Training; and Nick Paul, chairman of Advantage West Midlands.
Prof Gipps said the bid looks like coming down to a head-to-head between Cosford and a rival proposal based at St Athan in South Wales.
The summit is being organised by the Let's Fly Cosford campaign group, which is led by Advantage West Midlands and includes members from across the local public and private sector.
The aim of the event is to spell out the economic spin-off benefits that the Cosford bid could bring to West Midlands businesses.
Organisers say a winning proposal would see Cosford becoming a world-class centre of excellence for training, generating #350 million of direct investment in infrastructure and state-of-the art technology and training materials during the period 2007-2010.
The local procurement share of this investment is anticipated to be up to 60 per cent.
Current Gross Domestic Product (GDP) in the Cosford sub-region is #70 million and this is expected to rise to #97 million by 2012, peaking at #133 million in 2009.
The campaign's backers also include West Midlands Higher Education Association and the universities of Aston, Birmingham and Warwick, among others.
AWM's Mr Paul said: "The business summit is about exploring ways that business leaders in the West Midlands could benefit from and contribute to the potential developments at Cosford. "Regional business people have a key role to play and their active support for the bid is absolutely vital.
"At the summit we will be urging business leaders to endorse the campaign and we will be outlining the actions they can take to ensure that Cosford wins this vital contract."