Business Action Learning Tasmania's (BALT) mission is self-reliant industry development, with diverse companies co-operating to improve their profitability, develop their people and grow the local economy. This is achieved through collaborative action learning, with companies working together on projects of vital importance and sharing the learnings. The Tasmanian economy has been in decline for several years due to relative isolation, rising costs of freight, labour, energy and capital, skills shortages, and a high Australian dollar. BALT demonstrates the potential for self-directed action learning between organisations in a regional area to grow the local economy. BALT evolved from an initial Lean Action Learning program conducted in Tasmania in 2010. Since then 5 programs involving 13 companies have been completed, with a further 2 programs and 7 projects underway at time of writing. Representatives from participating companies have played a leading role, with support from the Tasmanian Government. This Account of Practice describes outcomes achieved, evaluation methods, lessons learnt and future aspirations for BALT.