Birmingham-based Giraffe Communications has been called in by the newly established Wolverhampton Development Company.
Its brief is to 'facilitate the speed of delivery of a profile for the city and also to attract investment to make sure that Wolverhampton is on the list of cities for developers'.
The agency will provide an integrated programme, including stakeholder relations, brand development, website development and event management.
Wolverhampton Development Company has been set up by Wolverhampton City Council, Advantage West Midlands and national regeneration agency English Partnerships.
The aim is to speed regeneration for the Midlands city, which has seen many of its traditional industries closed or dramatically downsized.
Giraffe managing director Sarah Hughes said: 'The real challenge for Wolverhampton Development Company is to be the foremost development company, as there are around 31 other development agencies in the UK.'