The federal government has opened applications for a new $30 million grants program aimed at helping Prescribed Bodies Corporate (PBCs) unlock economic opportunities on Native Title land.

The Strategic Projects grants, available until 30 June 2029, will support PBCs to develop long-term economic initiatives, the government says, along with strengthening partnerships with government and industry, and establishing business enterprises that create sustainable opportunities for Native Title holders and their communities.

The announcement comes as Native Title has now been recognised across almost 47 per cent of Australia's land mass, with PBCs responsible for managing Native Title rights and interests on behalf of Traditional Owners.

Federal Minister for Indigenous Australians Malarndirri McCarthy said the program had been developed with input from the Prescribed Bodies Corporate Steering Group and the First Nations Economic Partnership.

"I commend the Prescribed Bodies Corporate Steering Group for their work in designing the PBC Support Program with the support of the First Nations Economic Partnership.

"The program will strengthen PBCs and assist Native Title holders to generate and maximise economic opportunities for First Nations communities.

"The PBC Strategic Projects grant opportunity is about supporting PBCs to build economic empowerment."

Eligible PBCs can apply for grants ranging from $50,000 to $750,000 over periods of up to three years and forms part of the government's PBC Support Program, which is designed to strengthen the capability, capacity and sustainability of PBCs across Australia while supporting economic development for Native Title holders.

In addition to the Strategic Projects grants, it includes a one-off establishment payment for newly registered PBCs and increased operational funding to help organisations meet their legal responsibilities and engage with government and industry.