Ensuring the Illawarra won't become a "dormitory suburb" to Sydney is set to be among the key topics discussed on Wednesday.
Meanwhile, a leading developer believes the Illawarra is on the cusp of an "evolutionary change".
The Property Council of Australia will host its Illawarra Outlook event in Wollongong.
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Among the topics to be discussed include the region's economic and jobs outlook, the "game-changing" potential of the Port Kembla development plan, and how clean energy innovation could place the Illawarra region at the forefront of a global energy shift.
The event will also aim to tackle the challenge of ensuring enough housing is created to attract and retain the workforce needed to deliver these opportunities.
Keynote speaker
Ty Christopher, director of the Energy Futures Network at the University of Wollongong is the event's keynote speaker.
"There are huge opportunities that are already existent in the Illawarra, and in our future plans for innovation in clean energy, medicine, medical research, and particularly in clean manufacturing, and new manufacturing industries," Mr Christopher said.
"There's also a wishlist there of transport infrastructure that's desperately needed within our region.
"Yes, an uplift in housing and housing volume is critical to us realising the prosperity that these opportunities offer as a region, but people have to be able to live their lives.
"They have to be able to move around and you've only got to hop on the M1 freeway either of a morning heading north or of an afternoon heading south to realise that we have a significant infrastructure bottleneck here in the Illawarra across the number of different areas."
Mr Christopher said there needs to be "serious investment in the key enabling infrastructure around transport and housing".
"The reality is that we are quite land constrained here in the Illawarra," he said.
"An even with an accelerated release of the landholdings that are earmarked for that at the moment in the West Dapto and Calderwood areas, even with those going ahead gangbusters, there's still going to be a huge need for more dense housing stock to occur through redevelopment in and around the transport centres that are already there."
How do we unlock the region's potential in terms of housing, and create housing options?
Mr Christopher said there's no silver bullet, or one action that's going to solve this.
"We need to unlock faster approvals and faster land release for new housing. We need to practically look at densification around our transport centres and I know there's state government instruments that have come out in that space.
"I think there's some fundamental realities that we just need to face as a community... That our future will involve more dense population and more dense living than our past has been able to offer. We need to unlock transport and some very critical projects in both rail and road, and to some extent, even in and around the port with sea transport and infrastructure.
"And all of that will be underpinned by an ongoing push to keep jobs here in the Illawarra to not be a dormitory suburb to Sydney, but to leverage the innovation that's occurring here in the region."
'On the cusp of an evolutionary change'
Developer Jennifer Macquarie, director of the Fountaindale Group, who will also be among the speakers, said the Illawarra is "on the cusp of an evolutionary change".
"We already have a strong reputation for innovation in the tech and clean energy space, and we need to build on that to diversify and future proof the region's economy," she said.
"The lynchpin for me is sufficient and affordable housing for the skilled workers these new enterprises will need to attract.
"It's a problem that we haven't yet solved... 15 years from now I'd love to see more people building high value careers here, reduced reliance on commuting to Sydney, and thriving businesses built around an innovation ecosystem."
Matthew Wales, Illawarra and Shoalhaven regional director of the Property Council said the Illawarra is at a "pivotal moment", with population growth, housing pressure and the energy transition reshaping the region faster than ever.
"The focus now is on getting growth right," he said.
