From our Director
Judy McKinney-Cherry
DEDO Director
Welcome!
As we head into 2nd Quarter 2007, I am excited to once again begin with great news! The Kaufman Foundation and the Information Technology and Innovation Foundation have released the 2007 State New Economy Index, a state-by-state analysis of how well state economies are transforming from old economic development methodology to new economic development strategies, where the focus is on competing regionally and globally. According to the 2007 Index, Delaware has moved up from #9 to #7 since the 2002 report. We are pleased to report that Delaware has come out on or near the top in several categories, including #1 in industry investment in R&D and #1 in high-wage traded services.
Plus, I'm also excited to report that our tourism television spots are airing in television markets up and down the eastern seaboard. We are measuring the impact through the increased activity on our tourism website. If it's been awhile since you last logged on to our tourism website, I invite you to check out our great new look at www.visitdelaware.com. We're continuously improving the website's functionality to ensure a quality, user-friendly site for our tourism visitors and partners.
As always, please feel free to contact any of us at DEDO if we can help you or your business in any way.
Sincerely,
ABOUT THE
DELAWARE ECONOMIC DEVELOPMENT OFFICE
The mission of the Delaware Economic Development Office (DEDO) is to be responsible for attracting new investors and businesses to the State, promoting the expansion of existing industry, assisting small and minority-owned businesses, promoting and developing tourism and creating new and improved employment opportunities for all citizens of the State.
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What's New?
Delaware Receives High Marks in 2007 State New Economy Index - The Kaufman Foundation and the Information Technology and Innovation Foundation (ITIF), a non-profit, non partisan public policy think tank, have released the 2007 State New Economy Index. This report uses 26 indicators to measure the differences in the extent to which state economies are structured and operate according to the tenets of the New Economy, which include knowledge jobs, globalization, economic dynamism, transformation to a digital economy, and technological innovation capacity. We are pleased to report that Delaware has come out on or near the top in several categories, including: #1 in industry investment in R&D, #1 in high-wage traded services, #2 in direct foreign investment, and #2 in “gazelle” jobs. Overall, Delaware moved up in the rankings to #7 from our ninth spot in both the 1999 and 2002 report. To view the report, please visit http://www.kauffman.org/item.cfm?item=766.
Funding for Tech-based Businesses - Thinking about starting a technology-based business? The Delaware Economic Development Office offers the Technology-Based Seed Fund which fosters the creation of technology-based start-ups in fields such as biotechnology, advanced materials, clean energy, information technology, and new chemical applications. The goal of the fund is to invest in “gazelle-like” entrepreneurial projects positioned for fast-growth and wealth creation. For more information on the Technology-Based Seed Fund, please contact Sanskriti Inamdar, Business Finance Specialist, at (302) 739-4271 or sanskriti.inamdar@state.de.us.
Need a Tax Break? - Attention Delaware Corporations - why not get rewarded for your community contributions? Through an innovative new program created by the Neighborhood Assistance Act, businesses have the opportunity to support targeted Delaware neighborhoods and reap great benefits as a result! The Neighborhood Assistance program is about building partnerships as it provides opportunities for Delaware businesses to invest in the betterment of these neighborhoods and receive tax credits for their generous contributions. Companies who participate may be eligible for a tax credit of up to 50 percent of the investment or donation up to a maximum of $100,000. For more information about community eligibility or business contributions, please contact Barbara Rodgers, Small Business Outreach Specialist, at (302) 672-6828 or barbara.rodgers@state.de.us.
Delaware Seeks Private Partner for Wilmington Development - The Riverfront Development Corporation of Delaware (RDC), acting on behalf of the property owner, the Delaware Department of Transportation (DelDOT), has issued a Request for Proposals for the development of a 13-acre tract adjacent to I-95 in Wilmington. The site, the former DuPont Beech Street complex, is directly across from I-95 and has direct access to the burgeoning Wilmington waterfront where the new AAA headquarters and Frawley stadium are located. For more information, please contact Jeff Stone, Director of Infrastructure and Intergovernmental Relations, at (302) 672-6849 or jeff.stone@state.de.us.
Regional Life Sciences Industry Receives Grants - Last month, Governor Ruth Ann Minner joined Pennsylvania Governor Edward G. Rendell and New Jersey Commissioner of Labor and Workforce Development David M. Socolow to announce the creation of the Delaware Valley Innovation Network (DVIN). The DVIN is a unique collaboration that brings together government, industry, education, and economic and workforce development from Delaware, New Jersey, and Pennsylvania to strengthen and grow the tri-state region's vibrant life sciences industry and workforce. The region, through the DVIN, will be receiving two significant grants: $5.1 million in US Department of Labor Workforce Innovation Regional Economic Development (WIRED) grants to transform the tri-state region's life sciences industry and a $1.5 million Advanced Manufacturing grant in the biotechnology sector to establish an integrated learning process that delivers a well-educated, highly skilled workforce. For more information on this unique collaboration, please contact Helen Groft, Workforce Development Director, at (302) 672-6807 or helen.groft@state.de.us.
DEDO News
News from the Chemistry & Advanced Materials Cluster - Delaware will be hosting the 81st meeting of the ACS Division of Colloid and Surface Science. If your company is involved with colloids, nanoparticles, polymers, catalysts, advanced materials, biochemistry, biopharma, and pharma, you don't want to miss this international event at the University of Delaware, June 24 - 27, 2007. This event includes exhibitions as well as companies offering technical and personnel opportunities. To learn more, please click 81st ACS Colloid and Surface Science Symposium Brochure.
Training Grant Funds Help Delaware Small Business - Here's a great success story of how DEDO's Workforce Development training grants help Delaware businesses! Farley Printing Company, a printing/publishing business located in Wilmington, has launched a process improvement plan to increase production and reduce waste throughout the facility. Through a Lean Manufacturing training initiative, which included a Principles of Lean session and a 3-day 5-S Overview and Kaizen event, the company experienced immediate results! For more information on how DEDO's Workforce Development training grants can help your business, please contact Helen Groft at (302) 672-6807 or helen.groft@state.de.us.
Matching & Direct Grant Program - The Delaware Tourism Office is offering fiscal year 2007 Matching and Direct Grants. The purpose of the Direct and Matching Grant Program is to attract visitors to Delaware and to bring in overnight business to the state. The goal of the grant programs is to increase the visibility of Delaware's tourism product. The direct and matching grants are geared only toward not-for-profit tourism entities. However, for-profit tourism businesses are allowed to participate in partnership programs submitted by non-profits. All packaging programs must include at least one lodging tax paying property in order to promote overnight business to Delaware. All projects must tie in to Delaware Tourism Office’s Strategic Plan for the tourism industry.
A grant application seminar will be held on April 19 at the Delaware Economic Development Office to answer any questions on the grant process. Applications for both the matching and direct grants are due to the Delaware Tourism by May 9, 2007. Applications are downloadable PDFs at this link. Call or e-mail Jo-Ann Walston at 302-672-6841 or joann.walston@state.de.us for more information on the grant program.
Free to the First State - Encouraging our residents to become ambassadors for Delaware is one of the most powerful tools we have in promoting our great state. The Delaware Tourism Office in partnership with the Kent County, Southern Delaware and Greater Wilmington Convention & Visitors Bureau’s will sponsor “Free to the First State” for Delaware residents. On Saturday, May 19, over 37 Delaware attractions will waive their admission fees for Delaware residents. Come be a tourist in your own back yard. For more information and to see which attractions are participating with “Free to the First State” visit www.visitdelaware.com.
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Innovation@Work