Langthwaite Business Park in South Kirkby, which is home to 100 firms, may benefit from a new highway connecting it from the south west.
Under £1m proposals put forward by regional transport chiefs, the access road would link the park to Onward Way, off Langthwaite Road.
Wakefield Council says the move could unlock around 24,000 square metres of land, which could be used to host more firms and employ more people.
The road, which is subject to planning permission, is likely to have pedestrian and cycle routes built in.
A planning statement put forward by the West Yorkshire Combined Authority in August said the development is likely to cause some noise pollution and suggested an acoustic fence be put up to protect people living nearby.
Next week, Wakefield's senior councillors will be asked to sign off cash to help build the road.
A report published ahead of that meeting said that if planning permission is agreed, the road will have to be built before next July because of a contractual agreement with the landowners.
Councillor Darren Byford, the authority's portfolio holder for regeneration, said: "This scheme will make a big difference to employment opportunities in the area as well as enabling us to capitalise on this critical investment."
A new access road could be built to improve the network around a major business development.
Local Democracy Reporting Service