Work will start on site in the autumn on the 100-acre Ansty Park site near Coventry.
Site owner Advantage West Midlands has completed the removal of runways from the former airfield and will soon begin the work on infrastructure including roads, water and gas.
When completed, the site will comprise 1.1m sq ft of B1 development aimed at technology based users.
Mick Laverty, Advantage West Midlands deputy chief executive, said: ‘To really make this suitably attractive to international investors, we need to get the necessary infrastructure in place.
‘We are in advanced negotiations with a number of international companies who are involved in high-value added sectors who will create the kind of jobs we want on this important site.
‘Since we took possession of Ansty Park in 1999, our priority has been to secure the right occupants for what is a unique opportunity and now we are well on the way to doing this.’