Definition of Urban Development Corporation from the Oxford Advanced Learner's Dictionary

 

Urban Development Corporation

 
BrE
 
; NAmE
 
 
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any of several organizations started by the British government to develop and improve areas of the inner cities. The first two were started in 1981 in London's Docklands and in Merseyside, and created new offices, houses and industries. The Corporations especially encouraged businesses from abroad to come to the areas.