Destination Wollongong and Swisse officially announced the Illawarra run yesterday, with organisers saying they hoped to attract 10,000 people to the event planned for May 4.

However, the company's development application remains on exhibition and is still awaiting approval from the council.

A council spokeswoman yesterday confirmed the application remained on exhibition until March 5.

"DA determinations aren't made until the exhibition period is closed and the submissions assessed, so anyone who begins promoting their event or selling tickets before that time does so at their own risk," she said.

The Color Run promoters are expected to rake in more than $500,000 from tickets sales, with single entry to the event priced at $57.50.

Despite not having approval to hold the Color Run, the company's managing director Graeme Hannan expected the council to process the event permit after its next meeting.

"In conjunction with Destination Wollongong and the council event division, we agreed that there were no insurmountable hurdles that would halt the issuing of a permit," Mr Hannan said.

"We all agreed that with the event scheduled for May 4, it was important to launch this event sooner rather than later.

"Our experience in delivering events in 15 locations around the country over the past 18 months, tells us that it normally takes around three months to promote an event of this scale and fill the field."

The Color Run is a commercial venture marketed as "the happiest five kilometres on earth", but has a small charity element where runners can choose to raise money for a local charity.

If approved, the five-kilometre Wollongong course will start and finish at Stuart Park.

In the Color Run, participants start the day in white T-shirts, passing through stations where they are doused in different colours of cornstarch.

The event is targeted at women aged 15 to 35, but is also open to men and participants of all ages.