With its pro-business environment, high quality workforce and outstanding research universities, Delaware is among the strongest economies in the region and is ranked first in foreign direct investment by the Information Technology and Innovation Foundation. The state’s strategic location and competitive cost of doing business attract new business and capital investment in a number of key growth industries, including bioscience, finance and information technology.

“When we looked at potential sites for Zacros America, Delaware had the best workforce and the right location. We felt that Delaware wanted to promote manufacturing more than the other options we were considering. We also saw the greatest potential for a strong partnership with the state and its business community”.

Maurice LeCompte, Vice President of Zacros America’s Hedwin Division, who announced on 28th April 2015 that it will move to Delaware.

LOCATION ADVANTAGES

Delaware is at the centre of the country’s largest consumer market, with 40% of the US population within just one day’s drive. New York City, Washington, DC, Philadelphia and Baltimore are all less than 130 miles away and easily accessible by car, train, sea and air.

COST OF DOING BUSINESS

Delaware has the best business tax climate in the mid-Atlantic, as ranked by the Tax Foundation, and ranked first in economic output per job by the U.S. Chamber of Commerce. There is no sales tax, personal property tax, unitary tax, machinery or equipment tax in Delaware, and there is no state real property tax for businesses or individuals. In addition, Delaware does not tax businesses for inventory, process machinery or equipment. In addition to having a business friendly tax climate, Delaware also offers many tax credits and business incentives.

DELAWARE’S KEY INDUSTRIES

• Bio-Science: 80% of the US pharmaceuticals industry is located in the region, making Delaware’s bio-science industry one of the strongest in the United States. Key operations in Delaware include DuPont, Fraunhofer and AstraZeneca
• Information Technology: Delaware has the third-highest concentration of IT jobs in the nation, a reflection of its technology-driven economy. Key operations include Labware, MySherpa, CAI and SevOne
• Chemical Manufacturing: Pharmaceuticals, industrial chemicals, plastics and other synthetics are Delaware’s primary manufactured products, and the industry is among the State’s top sectors for employment and revenue. Key operations include Gore, Air Liquide and Croda
• Energy and Clean Tech: Delaware is among those states leading the nation in solar energy. In 2013 the state ranked 7th per capita for cumulative solar installations, and Wilmington ranked 3rd among cities nationwide for solar capacity per capita. Key operations include Bloom Energy, Motech and Standard Solar
• Logistics: Delaware’s location at the heart of the north east corridor offers logistics services providers, transportation companies and distribution operations a competitive edge. Key operations include UPS, Amazon and Trinity Logistics
• Finance and Insurance: Delaware has been a leader in the finance and insurance sector for more than 25 years, the result of a supportive, pro-business legal environment and favourable tax legislation. Key operations include Barclays, Deutsche, UBS, Bank of Montreal and RBC Royal Bank
• Corporate and Legal Services: 83% of all new US initial public offerings chose to incorporate in Delaware. The state remains the chosen home for more than half of all US publicly traded companies and 65% of Fortune 500® companies. Key operations include CT, Corporation Service Company, Richards Layton & Finger, Skadden and Potter Anderson & Corroon
• Defence: Defence contractors value Delaware’s strategic location, strong military presence, skilled workforce and opportunities to leverage the state’s excellent universities. Key operations include Honeywell, Beechcraft and ILC Dover
• Agribusiness: Delaware is the one of the country’s leading producers of broiler chickens and lima beans, and a significant producer of soya beans, maize, watermelons, peas, potatoes and dairy products. Key operations include Allen Harim, Perdue and Hanover

NOTABLE DELAWARE INNOVATIONS

• Designer proteins, gene microsurgery and molecular scissors are among the innovations happening at the Center for Translational Cancer Research at Christiana Care in Delaware
• Unparalleled food, nutrition and agricultural science, Nylon,Tyvek and Kevlar created by DuPont
• Multi-touch technology used in the first Apple iPhone® was created at the University of Delaware