Plans to regenerate 44 acres of derelict industrial land near junction ten of the M6 could be back on track after stalling for several years.
The Phoenix 10 site, joined owned by Walsall Council and the Homes and Communities Agency (HCA), has been earmarked for development as a major warehouse and distribution hub - taking full advantage of its location next to the motorway and near the new i54 Jaguar development.
Almost two years ago the development, expected to create 4,000 jobs, stalled after a deal between the owners and private developer Parkhill Reclamation and Regeneration collapsed.
But now the HCA and council have announced they are actively seeking a new developer to take on the project - but they have warned the project could take six years to complete.
A key stumbling block in the past has been the huge cost of decontaminating the land on the former IMI James Bridge Copper Works site at Darlaston.
Labour cabinet member for regeneration Coun Mohammad Nazir said: "There are very few sites of this size in the region which could make a massive contribution to employment opportunities for local people.
"Delivery of the Phoenix 10 site for employment purposes is not only important for the economy of Walsall but the region as a whole.
"To generate these economic benefits, together with the HCA, it is proposed to invite the private sector to bid for the opportunity to take on the site and deliver the remediation work and its eventual development."
The site is within the Black Country Enterprise Zone and will be aided by a £26 million highway improvement scheme in Darlaston. Work on which is due to begin soon.
With Labour running the council on a wafer-thin majority, the scheme has importantly won the support of opposition Conservative, Lib Dem and UKIP groups to give the developer a guarantee of continuity whatever party is in control.
Conservative deputy leader Adrian Andrew said: "This is a vital project for Pleck, Walsall and the Black Country to clean up the site and create much needed jobs.
"As a responsible opposition, we will not be using this issue as a party political football as happened in the past and I am pleased that the new administration is following the policy on this site that we put in place."
Anne-Marie Simpson, Midlands Central head for the HCA, said: "We know through working closely with the council how important this site is to the future growth of the borough.
"We believe the private sector will give us the best opportunity to get this site moving and deliver the employment benefits that the site holds for Walsall."