And according to the Committee for Ballarat, with the federal government now promising to bring forward $3.8 billion in infrastructure funding, opportunities should exist for a number of stalled projects to finally get off the ground.

It could mean projects including the Ballarat Airport upgrade, Link Road, fast rail, Ballarat Innovation and Research Collaboration for Health (BIRCH) and even Her Majesty's finally receive the federal funding they have so far been denied.

At a speech at the National Press Club on Tuesday, Business Council of Australia chief executive Jennifer Westacott called for Ballarat to be given 'priority status' as one of 10 regional cities to in order to power the national economy.

She called for infrastructure funding to be directed into centres such as Newcastle, Wollongong and Busselton, as well as Ballarat.

But to date, Ballarat has been largely shut out of major project federal funding.

In May's election, the only significant project promise from the Coalition was $10 million for Sovereign Hill.

Ms Westacott said it was time for regional Australia to be supported in leading the way in lifting the economy.

"If we are to truly play to our strengths as a nation, we must unleash the potential of our people, our places and our capabilities, wherever they fall on a map," she said.

"Doing this at scale and finding new markets will help transform our regional centres, creating more jobs, more businesses and more opportunities."

Committee For Ballarat chief executive officer Michael Poulton said the call was just the trigger business needs.

"Investment in the region would realise genuine fast rail, an upgrade of the Ballarat airport, the completion of the intermodal transport hub and the development of the workforce to service new innovative, sustainable business and industry," Mr Poulton said.

"There is enormous appetite from the businesses in Ballarat to grow and a commitment from government to identify and incentivise Ballarat as a designated top 10 town, is just the trigger business needs to invest and innovate."

Rail advocate Nick Beale said Ballarat was ideally placed to fulfill the requirements in the BCA announcement.

"There are a number of issues that are important and one of these is infrastructure required. Fast rail between Melbourne and Ballarat must be a priority. I do think that any incentive to get businesses to either relocate or set-up in Ballarat would be very welcome," he said.

Ms Westacott said the top 10 should be chosen by criteria such as nearby infrastructure like airports or major transport routes, two successful industries, strategic importance, proximity to major power grids, a university and a TAFE, and available housing and health services.

"We cannot spend 12 months arguing about which places should be chosen. Using my criteria, the places select themselves," she said. "Not every place can be selected, and we cannot make decisions based on electoral politics."

City of Ballarat Mayor Ben Taylor said given Ballarat's credentials and preparedness, the city offer itself "as test case for this enlightened approach."

"Ballarat is perfectly positioned to become Australia's first regional city with priority status. We are home to an airport, major universities and educational institutions, first class health services, at the hub of major road and rail transport routes and in close proximity to vast renewable energy resources and the transmission grid," he said.

"Our strengths centre on the renewable energy supply chain, our status as a prime manufacturing location, health and innovation research, growth of the knowledge economy and a nation-leading approach to waste management based on the circular economy.

Cr Taylor, who has confirmed he will take up a seat on the Regional Capitals Australia national lobby group said the city "will actively pursue 'priority status'."

Federal Treasurer Josh Frydenberg, who visited the city at the weekend said the Federal Government was bringing forward a record infrastructure spend.

"Not only do we need to get our finances in shape if we're going to grow, we also need to continue to put the building blocks in place to ensure the Australian economy continues to grow," Mr Frydenberg said.

"One of the areas where we are investing heavily is infrastructure - we've had 10-year, record, $100 billion infrastructure plan."

However, Mr Frydenberg offered no commitments for further funding to the region.

"We are bringing forward $3.8 billion in infrastructure projects, and those projects, like the airport tunnel, like regional roads, the north-east link, and other projects, are getting support," he said.

Ballarat Federal MP Catherine King said it was now time for the Federal Government to back in the city.

"We have projects crying out for federal funding, including BIRCH and the Ballarat Airport upgrade," she said.

"Regional centres like Ballarat are wonderful places to live and are already home to many great businesses doing really ground-breaking work.

"To take our regions forward, we need the Federal Government to be investing based on real need rather than their political priorities.

"It's past time for the Federal Government to start engaging with regional communities, like Ballarat, to drive greater investment and the good jobs that will follow."

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