 Its vision is "to be a strong, self-sufficient and healthy Nation of Larrakia people, participating fully in the wider economy of Darwin and the Northern Territory, where Larrakia language, law and culture is known, respected and valued by all members of that community"

The Larrakia Development Corporation was established in 2002 by Larrakia people with the support of the Northern Land Council.The Council holds all shares in the organisation in trust for the Larrakia people.The Larrakia Development Corporation does not have a membership base; instead, its mission is enshrined in the Larrakia Development Corporation Trust deed.