The council and joint venture partner, regional development agency Advantage West Midlands, are seeking a developer for the business park dubbed i54.
Basic site works at the 91 hectare business park, beside the M54 on the boundary between South Staffordshire, are finished.
It is expected to have 235,000sq m of floorspace for offices, education and research facilities, industrial units, a hotel and associated services.
The first phase of the business park project, worth a total £167 million, is scheduled to begin next year.
The council and agency expect to invite three bidders to submit tenders. The deadline for requests to participate is Friday 9 May.