Brass manufacturer Benedict & Burnham created Waterbury Clock Company in 1854 to manufacture clocks using brass wheels and gears. Waterbury Clock Company was legally incorporated on March 27, 1857 as an independent business with $60,000 in capital. The American clock industry was producing millions of clocks with scores of companies located in Connecticut's Naugatuck River Valley, earning the region the nickname "Switzerland of America". The Waterbury Clock Company was one of the largest producers for both domestic sales and export, primarily to Europe. Its successor today is Timex Group USA, Inc. which is the only remaining watch company in the region, although Breitling has offices in nearby Wilton.