The corporation was due to wind up by mid-2015 but the government has moved to act earlier.

At its height, the corporation employed more than 100 people.

During the next two months the corporation’s five staff will finalise the sale of land, with about 80 developed residential and industrial lots remaining.

Over the past 30 years, the corporation developed more than 6000 residential lots across the Border.

It now has just 986 hectares, compared with the 6400 hectares of land it held in 2004.

Border residents will recognise the significance of a wind-up announcement coming during the week when a memorial service for former prime minister Gough Whitlam was held.

The decentralisation experiment started under Mr Whitlam’s government in 1973 comes to an end with the wind-up of a corporation which had been charged with development to support a population of 300,000 by the year 2000.

That goal was revised down and never met but the corporation did impact on Border development and returned significant dividends to government.