Neo-endogenous rural development is driven by local people from the ground up but enabled and steered by policy actors from the top down; the balance of driving and steering, or where the power in the relationship lies, is thus a key point of enquiry. This paper interrogates contemporary theorisations of rural development using recent empirical evidence from Australia. We analyse a recent development process in the rural region of North West Tasmania, Australia: the “Regional Futures Plan”, conducted over the period 2019–2021. The Regional Futures Plan was a locally led development initiative that brought together regional actors across sectors in a structured process to address employment, population, and sustainability challenges. It received limited State government funding or support. In this paper we ask: to what extent is this locally led rural development process an empirical example of neo-endogenous rural development, classic endogenous rural development, or something else? Analysis through an anthropology of development lens deepens current theorisations of neo-endogenous rural development by revealing the logics and strategies local actors use as they work together for change in dialogue with external actors and the State. The analysis concludes that the Regional Futures Plan experience can be understood as a form of disarticulated neo-endogenous rural development whereby local actors seek to drive local development outcomes in dialogue with, but in the absence of formal relationships with more powerful governing institutions and the state. The existence of locally led but disarticulated rural development suggests both opportunities and challenges for future rural development policy.