From our Director












Judy McKinney-Cherry
DEDO Director

Welcome!

I am excited to bring you more great news! Delaware was chosen as the third best state in the nation for business recruitment and attraction.  The National Policy Research Council and Expansion Management magazine conducted the research which was based on the relocation of 19 million companies in NPRC's database over the past 8 years.  We’re also excited to see the Brandywine Valley and the city of Milford noted in two newly published books about great places to visit, live, and play. 

Arguably one of the most significant events of the summer, so far, is the passage of the New Economy Jobs Program. Thank you to the General Assembly for passing this legislation, which will provide businesses up to a 65% rebate on withholding taxes for their new Delaware taxpayers.  To qualify, an employer must add at least 50 net new jobs with each having a minimum annual salary of $100,000.  This innovative program is intended to bring high-wage jobs to Delaware and offer an additional tool in our efforts to recruit new businesses to the state.

We hope you enjoy our e-newsletter and certainly welcome any feedback that you may have.  I wish you a happy and profitable summer!


Sincerely,

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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 Ranks High in Business Recruitment and Attraction – From a newly published report, Delaware ranks third in the nation for business recruitment and attraction.  Expansion Management magazine, a business publication for companies looking to expand or relocate their facilities, developed the report with the National Policy Research Council (NPRC), a non-partisan think-tank.  The rankings are based on NPRC analysis of the relocation activity of about 19 million companies in their database during the past eight years, which determined the most popular commercial relocation destinations.  In addition, New Castle County came in fourth in the country for Mid-Size Counties, and Dover was ranked tenth in the U.S. on the list of top Small Metros for recruiting and attracting businesses.  View the complete report at www.expansionmanagement.com.

Where Are You Going?  -  DEDO is working closely with the Delaware River & Bay Authority in an effort to continue commercial air service from the New Castle Airport (ILG) – and we’d like to ask for your help.  As part of our marketing effort to attract the right air carrier for Delaware, we’d like to know the destinations to which your company sends employees on a regular and predictable basis.  Please forward the cities/ destinations to which your company sends employees on a frequent basis along with the average number of airline trips per month to this destination to Vernetta Knight at vernetta.knight@state.de.us or you may call Vernetta at DEDO at (302) 739-4271. 

Brandywine Valley and Milford:  Great Locations to Live, Work, and Play – When traveling throughout Delaware, be sure to take note specifically of the Brandywine Valley and the city of Milford.  The Brandywine Valley National Scenic Byway is listed under America’s Byways in the new book “1000 Places to See Before You Die - USA and Canada,” written by Patricia Schulz.  Milford is included in the book “101 Best Outdoor Towns:  Unspoiled Places to Visit, Live & Play,” written by Sarah Tuff and Greg Melville, both former Men’s Journal editors.


DEDO NEWS

New Economy Jobs Program Signed into Law -  DEDO is excited to report that, on June 30^th,  Delaware’s General Assembly passed Senate Bill 149, the New Economy Jobs Program, and was immediately signed into law by Governor Minner.  The New Economy Jobs Program is designed to provide an innovative tool to bring high-wage jobs to Delaware and make the state more competitive, while allowing the state to effectively recruit headquarters, research and development jobs, and specialized financial service firms.  The legislation will provide businesses up to a 65% rebate on withholding taxes.  To qualify, a new employer must add at least 50 net new jobs with each having an annual salary of at least $100,000.  For more information on this innovative program, contact Gary Smith at (302) 672-6817 or gary.smith@state.de.us. 

Health Sciences Cluster Update  -  Delaware’s newly created Health Sciences Cluster is gaining tremendous momentum.  The Cluster has gathered commitments from over 20 industry leaders to participate this fall in high-level, intense Cluster planning meetings, led by Gary Ferguson, COO of Christiana Care Health Services, as Chairman of the committee and Patty Cannon, DEDO’s Health Sciences Cluster Market Leader. In FY06, this dynamic industry represented 45,227 jobs in Delaware, and contributed more than $3.1 million to Delaware’s GDP.

Technology-Based Seed Funds Approved  -  In our ongoing effort to encourage technology-based start-ups, to date this year, DEDO has approved Technology-Based Seed funding for three Delaware companies:  1) Sky-Trax, Inc., an early stage company specializing in developing solutions for the distribution/warehousing industry, was approved for $100,000.  Sky-Trax’s rapid success is evident through several beta site installations currently being conducted in Pittsburgh and Atlanta as well as international interest from Europe and Australia. Sky-Trax was a Philadelphia Angel Investor nominee for Most Innovative New Product.  2) Myzaca, LLC, another early stage technology company, specializes in developing solutions for consumer data visualization and trend analysis output with an initial focus in the fantasy sports industry.  Myzaca was approved for $100,000 of equity funds for marketing and operations management through this program.  Myzaca was one of the companies competitively selected to present at the Early Stage East Conference, a venture capital showcase platform for entrepreneurs.  3) Change-a-Brill, an early stage signage company, was also approved for $100,000 of equity seed funds.  This company has developed a proprietary system that provides a less costly but a much brighter and more attractive alternative for neon signs with an added advantage of changeability of signs as needed.

For more information on the Technology-Based Seed Fund and how to apply, please contact Sanskriti Inamdar, Business Finance Analyst, at (302) 672-6855 or sanskriti.inamdar@state.de.us.

Commercial Real Estate Update – Commercial property in Delaware remains in high demand, while supply remains sufficient for those companies wanting to utilize office or industrial space. Most recently, DHL has signed a five-year lease renewal for more than 33,000 square feet of flex space in the River Edge Business Park in New Castle.  For information on available sites, please contact Jeff Stone, Director of Infrastructure and Intergovernmental Relations, at (302) 672-6849 or jeff.stone@state.de.us.

DEDO Cluster Leader Receives Fellowship  -  Delaware Economic Development Office Banking, Financial Services and Insurance Market Leader Peter J. Bernota was selected as a Robert J. Thompson Eastern Leadership Academy Fellow for 2007.  Bernota was chosen for the prestigious honor by the Council of State Governments/Eastern Regional Conference based on his accomplishments in economic development and for his commitment to public service. Peter will join 30 other U.S. State and Canadian Provincial officials at the University of Pennsylvania Wharton School of Business and Annenberg Public Policy Center this fall for leadership skills training and study of the most significant policy issues facing the region today.  CSG/ERC is a non-profit, non-partisan organization located in New York City, serving legislative, executive, and judicial branch officials from the ten Northeastern states, Puerto Rico, the U.S. Virgin Islands, and five eastern Canadian provinces CSG/ERC promotes region-wide initiatives, facilitates inter-branch cooperation, advocates on state-federal issues, and educates policymakers on regional priorities and trends.