Pyrmont and the precinct west of Sydney Harbour would be home to a cable car into the city, floating bars and swimming pools under a new "vision" being backed by the NSW government.

A waterfront promenade, metro train station, extra ferry services, a major festival and a reopened Glebe Island Bridge would help transform the area into a $20 billion tourism and entertainment hub, a report from the Western Harbour Alliance and Committee for Sydney lobby groups suggests.

The Pyrmont precinct could be turned into a tourism and entertainment hub, a new Committee for Sydney report says.

The Berejiklian government is pushing ahead with plans to redevelop Pyrmont after the state's independent planning authority knocked back The Star's proposal for a $529 million casino tower.

Treasurer Dominic Perrottet said at a launch for the committee's "vision" on Wednesday the precinct would unlock a potential $20 billion in capital investment and provide context for 10,000 jobs.