BlueScope is figuring out what it can do with 200 hectares of land it no longer needs adjacent to its Port Kembla steelworks, south of Wollongong. 

The company has announced an 18-month program to transform land located mainly to the south and west of the steelworks site.

BlueScope managing director Mark Vassella said it was timed to coincide with work to re-line the company's Number Six blast furnace and transition to low emission steelmaking.

"So we will now as I say consult broadly, think about what the opportunities are but really it's about activating that excess land," he said.

"[It's about] expanding how we think about it and then really shaping what the future social and economic sustainability of the region could be."

Mr Vassella said opportunities existed to repurpose old industrial buildings as well as potentially hand back sections of land to the community.

He said that ranged from having excess parcels of land they choose to sell, to being a developer, to gifting and granting back to the community access to particular parts of the facility.

Mr Vassella said the company had employed an architect and urban design firm to develop a master plan involving community consultation with First Nations people, residential and industrial neighbours, employees, the council and the NSW Government.

Huge potential

Port Kembla-based Wollongong councillor Ann Martin welcomed the announcement.

Ms Martin, who is also an artist, said she saw opportunities for creative industries such as film making and arts festivals.

"It's very, very exciting."

She said she had recently been to Austria where she visited the Arts, Science and Technology Festival.

"We were given a tour through a repurposed tobacco factory," she said.

"In that factory was artists, designers, architects, boutique manufacturers.

"While we were there they were just preparing their tender for a hotel on the site."

Bluescope says an update on master planning work will be provided in due course.