Why Business Council of Australia CEO says nation should follow Newcastle

Bran Black will address the region's business community at the Future Made in the Hunter conference on Thursday and praised its economic direction in a glowing speech.

"Newcastle and the Hunter region are a model for what we need to achieve as a nation, for who we need to become," Mr Black said.

"There are few more exciting regions to be found in Australia, or indeed in the world."

Historically known as a heavy industry city, Newcastle has diversified its economy, with large health, education and services sectors easing the region's slow but steady transition away from fossil fuels.

The city has also become a defence hub, building around the Williamtown base, and a research mecca, with more than 1500 people alone based at the Hunter Medical Research Institute.

"I think nothing says that Newcastle sees itself as an innovation city better than the decision the university took to build out its new campus in the heart of Newcastle's CBD," Mr Black said.

"What is happening here in the Hunter, and more broadly across Australia - the process of reinventing and reinvigorating our economy - does not happen without a nurturing environment."

Mr Black said to attract investment from the private sector, the government would need to work with them to build an investment-friendly environment.

"That's the only way we can reinvent ourselves as a nation, as the Hunter is doing.

"I also want to be clear about the fact that this economic reinvention is about more than seizing opportunity. It's about necessity.

"The Hunter had to. Australia now has to, too."

Hundreds of people are expected to attend the Future Made in the Hunter conference at City Hall, to discuss the big nation-building and region-building projects that can propel the region forward.