Parramatta's Female Factory is among convict-era buildings that would be transformed under a plan to turn a historic site in Sydney's west into a lively hub for artists, creative industries and start-ups.

A cluster of former institutions in North Parramatta's heritage core would be revived as museums, businesses and cafes in a Carriageworks-like precinct designed to capitalise on the city's arts boom.

Bonnie Djuric, director of the female factory precinct memory project, supports the latest proposal. Credit:Wolter Peeters

The idea for the western Sydney cultural and creative industries hub is outlined in a Sydney Business Chamber discussion paper launched at the site on Thursday.

David Borger, who is the chamber's western Sydney director, said the plan would invite artists and businesses to repurpose buildings on the site that had largely been off-limits to the public for years.