The Waterbury Development Corporation is a 501(c)(3) non-stock corporation, organized and incorporated under the laws of Connecticut. Founded in May of 2004, the WDC is a formal partnership of the public and private sectors with the corporate mission of conducting long-range planning for economic development and housing activity in the City, and where appropriate, the Greater Waterbury Region through the:

• Planning, promotion and coordination of economic & housing development;
• Creation, expansion and retention of businesses;
• Systematic eradication of blight;
• Administration of loan funds;
• Promotion of the city's workforce;
• Development of a successful marketing campaign for the city/region &
• The fostering of a strong business climate.

The business and financial affairs of the WDC are managed by a 25-member Board of Directors, which consists of elected volunteers from the government, neighborhood and business communities. The Board is also responsible for electing from its own number an Executive Committee to supervise and manage the day-to-day activities of the Corporation. Other committees elected by the Board of Directors are the Loan, Permitting, Transportation, Downtown and Business Growth Committees.