Plans have been unveiled to build a new business park, which developers say could create 1,000 jobs.
Keyland Developments hopes to build business and industrial units on 500,000sq ft of land on the east side of the city.
The development would be part of the City Fields masterplan, which is one of the biggest regeneration initiatives ever seen in the city. The scheme aims to create thousands of new jobs and attract £500m of investment.
The business units would be built on land near the £33m Wakefield Eastern Relief Road, (WERR) which is also part of the City Fields scheme.
The road will link the A642 Aberford Road and the A638 Doncaster Road, with a connection to Ferry Lane in Stanley. It is hoped that the by-pass would help to ease congestion in the city centre.
Keyland Developments would not reveal which companies could move to the business park but said they expect it to create 1,000 jobs.
Keyland Development manager Ryan Unsworth said: “With direct access to the WERR, this site is one of the most strategically important in the region.
“It has the potential to deliver significant employment opportunities in line with the aspirations of the Wakefield East Consortium.
“With work underway on the road, the City Fields area is gathering momentum and the creation of this major employment element will ensure its long term sustainability.”
Keyland, which is a sister company of Yorkshire Water and part of the Kelda Group, has been operating across Yorkshire for more than 20 years, regenerating Yorkshire Water’s redundant sites.
And the company teamed up with marketing agents Bilfinger GVA and Knight Frank to submit the proposals to Wakefield Council.
Knight Frank associate Nick Prescott said: “The application addresses the widespread regional shortage of quality industrial and business accommodation.”
Bilfinger GVA associate Iain McPhail said: “The regeneration of this area of Wakefield will bring about an exciting range of economic and social benefits. The mix of units proposed within the application will ensure widespread opportunities to accommodate a range of businesses.”
The City Fields scheme, which could take between 10 and 15 years to complete, could also include new offices, shops, industrial units, a school and a waterside park.