The revamp will see the seven Northern councils take up shareholder roles in the organisation, which will be run by an independent board of directors.

Held at the Meander Valley Council Chambers, the gathering marked the first meeting between the mayors of Break O'Day, City of Launceston, Flinders, George Town, Meander Valley, Northern Midlands and West Tamar councils and incoming NTDC chairman John Pitt.

Mr Pitt said he was hoping to bring a “sense of urgency” to the organisation. 

“There's been a lot of really good planning work done over the last three or four years and I think everyone realises that the time for planning has probably been had and now is the time to start putting some of those plans into place,” Mr Pitt said.

“The focus of the new corporation will be on delivering and doing things that assist with economic development and growth rather than (planning).”

Despite being in its early stages, the organisation has already set itself goals to increase the North's growth regional product, create 8000 new jobs within 10 years and increase the weekly average pay packet by $100. 

Mr Pitt said a board of directors would soon be appointed to govern the organisation.

“Come the new year we'll be ready to start work encouraging business to really grow the economy in our part of the world.”