Pederson Funeral Home Watertown was established in 1873, as the Nowack Funeral Home by Carl & Frank Nowack. The funeral home remained in the Nowack family until 1951, when D.D. Pederson purchased the business from Carl F. Nowack. David W. Pederson joined his father in business in 1973 and later purchased the business in 1978. In 1983 David purchased the Jones Funeral Home Waterloo from Myron Jones. In 2001 Ryan J. Nowatka joined David in business and later became co-owner in 2006. The business is operated out of the building which was Watertown's first funeral home, built as a full service funeral home in 1930.