PENRITH'S health-education precinct is about to open for business and organisers want private investment.
For several years, Penrith Council, the Penrith Business Alliance and local businesses have worked with UWS and Nepean Hospital to map a new employment strategy.
Penrith businessman and deputy chair of the Nepean Hospital board, Greg Allchin, said there were great opportunities for the private sector in Penrith.
"We're going to have world-class medical and educational facilities in one of the fastest growing areas in Australia," Mr Allchin said.
"We've been working with government to get the right land zonings here, so the private sector can complement what's being done at the hospital or university.
"For example, the blue zone is a new zone around Nepean Hospital which will allow multi-storey building."
He said such development would allow staff and specialists at the hospital to extend their work or even to live nearby.
Penrith Business Alliance chairman Paul Brennan said such complementary planning was already being done.
"We've started at Werrington, partnering with UWS to get the innovation campus happening," Mr Brennan said.
"It's expected 400 to 500 jobs will be created.
"Some of them will be in science, some health-related, some in commercial enterprises.
"Ideally this will build ties between academia and business."
He said this would create job opportunities and extra revenue streams for the university.
He also said a growing health-education precinct would help revitalise the rest of Penrith, including the central business district.