The document summarizes the evolution of the Cobb+Co Museum in Toowoomba, Australia over three stages from 1987 to the present. The museum initially followed a traditional model as an internal collection-focused institution from 1987-2001. From 2001-2010 it adopted a social enterprise model, becoming a community resource center focused on lifelong learning and inclusivity. Since 2010 it has operated as a creative-cultural industry model, serving as an innovation and design hub providing social, cultural and economic benefits to the community through heritage trades and handmade goods. The museum now uses its heritage assets to foster local prosperity, cohesion, sustainability and identity.