In 2011, CLCAC established a Business and Economic Development Program to identify and engage professional expertise, develop capacity and raise funds to undertake regional economic development planning to support individuals and communities in the lower Gulf. This is in recognition of the fact that despite our achievements in native title and land and sea management, Indigenous people and communities of the Gulf region remain seriously socially and economically disadvantaged.

On the 13th of March 2013 the CLCAC convened the first Indigenous Economic Development Summit in the region. The Summit brought together Traditional Owners, key industry and business leaders and government officials to discuss the issue of Indigenous economic development in the southern Gulf of Carpentaria.  Key topics discussed at the Summit included but were not limited to tourism and small business opportunities.

The 'Indigenous Economic and Business Development Opportunities in the Gulf of Carpentaria Region Report' was also formally launched at the Summit.  The report is a rapid assessment of the Gulf’s economic profile and identifies realistic opportunities for growing mainstream business activity in a measured way.

The Summit and report is a first for the Gulf and will be the catalyst for driving economic and business development opportunities for Traditional Owners and Indigenous groups into the future. The report identifies the challenges and opportunities people face in the Gulf in developing business opportunities and also maps out a way forward.