Wirral council and English Partnerships are seeking a developer to build out a 20-acre extension to the popular Wirral International Business Park in Bromborough.
A range of office and industrial space aimed at small to medium sized businesses will be built on the former Ministry of Defence bulk oil storage site.
Eliot Lewis-Ward, English Partnerships' area director for Merseyside and Cheshire, said: "Wirral International Business Park is one of the most important locations in the North West for attracting inward investment and providing quality space for existing businesses to grow.
"The Long Plantation site has lain unused for nearly 30 years but now, through the investment of English Partnerships and our partners, it will be used to create hundreds of quality new jobs."
Cllr Steve Foulkes, leader of Wirral council, said: "This extension to Wirral International Business Park will continue the success of recent years in attracting new businesses and jobs to our local economy.
"We expect the successful developer to create a high quality scheme that will raise the quality of the whole business park and this key gateway into Wirral."
WIBP is one of the North West's main business parks and covers 830 acres, with more than 100 companies resident.
A decision on the appointment will be taken next year.