Development corporation

A development corporation or development firm is an organizations established by a government for the purpose of urban development. They often are responsible for the development of new suburban areas or the redevelopment of existing ones.

In Australia development corporations are often responsible for the economic promotion and growth of areas considered to be under-performing economically. Such corporations include:

• Central Coast Development Corporation (1998–); previously known as the Festival Development Corporation
• Cooks Cove Development Corporation; based in The Rocks
• Hunter Development Corporation (2007–); based in Newcastle
• Honeysuckle Development Corporation (1992–2007; merged with the Regional Land Management Corporation to form the Hunter Development Corporation); based in Newcastle
• Macquarie Point Development Corporation (2012–); based in Hobart, Tasmania
• Northern Tasmania Development Corporation (2017-); North Eastern Tasmania, including Launceston.
• South Sydney Development Corporation (1996–2005); responsible for managing the Green Square area

• Ørestad Development Corporation (1993–2007); responsible for urban redevelopment of Ørestad. It also constructed parts of the Copenhagen Metro.

• City and Industrial Development Corporation (1970–); agency of the Government of Maharashtra. Constructed the planned town of Navi Mumbai. Currently conducting urban infrastructure and new town developments.
• Housing and Urban Development Corporation (1970–); agency of the Ministry of Housing and Urban Poverty Alleviation. Responsible for building affordable housing and managing urban development.

• Moriah Jerusalem Development Corporation (1986–); established by the Jerusalem Municipality.

• Coega Development Corporation
• Eastern Cape Development Corporation
• Free State Development Corporation

In the United Kingdom, New Town Development Corporations were organisations established under the New Towns Act 1946 (9 & 10 Geo. 6. c. 68) by the UK government, charged with the urban development of an area, outside the usual system of Town and Country Planning in the United Kingdom. Originally intended to manage the development of New Towns in the United Kingdom, they were also established for more substantial urban renewal programmes by the Town Development Act 1952.

The Localism Act 2011 permitted the Mayor of London to create mayoral development corporations in Greater London. The Cities and Local Government Devolution Act 2016 permitted the creation of mayoral development corporations in combined authority areas.

• Economic development corporation in the United States
• Laganside Corporation, Urban Development Corporation for Belfast, Northern Ireland
• Community Futures in Canada
• Land development