Site Expansion - Regional Roundup: Delaware

805,945

423,200

4.3%

Wilmington: 72,485; Newark: 29,652; Dover: 32,299

Biotech, agriculture, information technology, tourism, banking and finance, transportation, venture capital

15,224

Delaware Technology Park; Delaware Biotech Institute; University of Delaware

Extensive pool of scientists and engineers; similar industries based in Delaware; broad regional network of specialized suppliers; one of the lowest costs of doing business regionally

Competitive tax structure, including no state or local general sales tax; no personal property or inventory taxes; real property taxes are among the lowest in the US; corporate income tax credits and reduction of gross receipts taxes for new and expanded businesses; additional tax credits on corporate income and reduction of gross receipt taxes for new and expanding businesses locating in 30 targeted census tracts; property tax relief for new construction and improvements of existing property; the exemption of certain investment and holding companies from corporate income tax; the adherence of the state tax structure to the federal definition of corporate net income so companies may take full advantage of any federal tax law change, such as more rapid depreciation of newly purchased assets. Also, two approved foreign trade zones will allow the deferment of import taxes; Public Utility Tax rebates of 50% on increased consumption for qualifying industries, and reduced rate for manufacturers and agricultural processors. (Visit

Delaware Technology Park:

Legislative funding; restructuring of Delaware Economic Development Office to clusters one cluster is devoted to life sciences and biotechnology; the state plans to continue to attract new biopharm companies