History
The Founding of the WBDC
Our history is not just an old story detailing how we came to be. It is who we are and it remains instrumental to our corporation today. We allow it both to drive us to greater heights and remind us of the basic principles we were founded upon.
On Thursday the 21st of July, 1965, an act creating the Worcester Business Development Corporation was signed, with the full support of the City Manager Francis McGrath and other important leaders in the Worcester community. This was the first establishment of its kind: a non-profit business organization whose mission was to rebuild and revitalize the City of Worcester. The difference from other, similar plans was that this plan create new jobs and try to expand the tax base. It was a brand new idea, the first in a long tradition of WBDC innovations. The 1965 creation of the WBDC was only the beginning of what would become a long custom of outstanding and unparalleled contributions to the City of Worcester.
The WBDC was founded by a large group of public minded citizens, who made it their mission to work with City officials to recognize and react to economic challenges that the community was facing. It operated through the Worcester Area Chamber of Commerce as a non-profit development. Together, the two organizations worked to promote employment opportunities, expand the tax base, and assist the development and growth of business in the Worcester area.
Like with any new endeavor, the WBDC faced adversity. There were significant employment cuts in various industries at this time Manufacturing, retail trade, construction and transportation sectors all faced job losses, and so the WBDC had to work quickly to make an impact on the community. After starting the Worcester Center project, the results of this effort were seen quickly by the community, as the weight of the property tax shifted off more and more people. This initial success led to further efforts by the WBDC that have had the same positive effect on the City.
In 1965, the WBDC committed to these statements of purpose:
To promote the common good and general welfare of the City of Worcester and its vicinity
To improve the living standards of its citizens
To develop an association of public spirited citizens, businesses, professionals, and technically trained citizens to accomplish the purposes of the corporation
It is with these purposes in mind that the WBDC continues to commit itself to the City of Worcester and the people who call it home.