Liverpool Vision, Liverpool Land Development Company and BusinessLiverpool will come together to form one body from next April.
The move was engineered by Liverpool City Council leader Warren Bradley, who said a single economic development body would have more power and bring consistency for developers.
The as yet unnamed company will employ around 70 staff in the city centre and be backed by initial revenue funding of £5 million. It will be jointly owned by the council, English Partnerships and the Northwest Regional Development Agency (NWDA).
The council is appointing a chairperson and advertising for a chief executive to be paid around £150,000 a year. It said it hopes to have someone in place by October.
Its recruitment website states: "There is no doubt that private sector values and principles will have a strong influence on the organisation's practices and approach to business."
The board will include six private sector members, three from the council and one each from English Partnerships and the NWDA.
A council spokesman said that staff from all three original bodies will be employed in the new company. It will retain their powers while adding some further ones now under discussion.
Liverpool Vision recently announced that growth in the city has shifted from the public sector and is now primarily private sector-led.