The £31.4 million project includes a proposal to create a major industrial and commercial development at the site as well as plans for a new road to provide an alternative route in and out of West Dunbartonshire.
Elected members approved a refreshed Outline Business Case for the site.
They also agreed plans to increase the Council contribution to the development from £3.8million to £4.7million.
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The Outline Business Case will now be presented to the Glasgow City Region Chief Executive Group and subsequently to Cabinet for approval in February.
If funding is not made available by the City Region, the Council will invest an additional £6.1million in the project.
Council officers will now begin negotiations with surrounding landowners regarding the transfer of their land ownership to enable the wider development.
Councillor Iain McLaren, Convener of Infrastructure, Regeneration and Economic Development, said: "This is a significant step forward in what is likely to be one of the biggest infrastructure improvements in West Dunbartonshire's history.
"This site is an excellent location for commercial use and with its introduction expected to support up to 690 full-time jobs, this really is a positive decision.
"I look forward to seeing this ambitious project progress."
