Bosses at the popular Dudley attraction want to increase its size by a third.
Proposals include creating a new 1940s'-style town complete with a pub and library. They also include moving the Tipton Road entrance to Castle Hill and linking the site with attractions such as Dudley Zoological Gardens. Museum chief executive Andrew Lovett said:
"There's great opportunity to fulfil potential here - there's great opportunity to increase attendance and tell the story.
"The Black Country had a global impact, so why shouldn't the museum have a global impact? There is no doubt we can help change perceptions of the town and the region and I think it needs that.
"By creating a bigger and better museum there's a great opportunity."
Bosses said 60 jobs would be created as a result of the expansion, while hundreds more short-term jobs would be created during construction. Mr Lovett said the project would allow the museum to contribute an extra £3m to the local economy - taking the total up to £7m.
The plans are subject to raising £18.9m required to do the work. Investment is being sought from the West Midlands Combined Authority. The remainder will be achieved through fundraising activities.
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