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A development corporation or development firm is an organization 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.
Australia
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[1]); based in Newcastle
Lower Lea Valley (parts of Hackney, Tower Hamlets, Newham and Waltham Forest) London Riverside (southern part of Barking & Dagenham, Havering and Newham)