The formation of the LYP is a result of an initiative of the Latrobe First project, in collaboration with local organisations and businesses. The aim being to implement a recognised retention strategy for young professionals in the Latrobe Valley, which involves ensuring they are connected to and involved in the local community. 


In March 2007 a steering committee was formed with assistance from employers including Latrobe Regional Hospital, Latrobe Community Health Services Inc., Gippsland Dental Group, Loy Yang Power, GHD, i-Gain, Gippsland Water and Latrobe City. The steering committee developed the platform for the group and in May 2007 elected office bearers, became an incorporated body and commenced planning for the official launch of the group.