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FOR IMMEDIATE RELEASE |
CONTACT: Michelle Reardon |
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Friday, May 19, 2000 |
302/577-8701 |
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WILMINGTON - Governor Thomas R. Carper today announced that Forbes magazine rated the Wilmington-Newark and Dover metro areas as among the nation's "Best Places for Business and Careers" in this week's edition. In this week's edition, Forbes magazine and the Milken Institute released their second annual "Best Places for Business and Careers" - a ranking of the top 200 metropolitan areas in the United States. For the second straight year, the Wilmington-Newark metro area ranked 25th out of the top 200 large metro areas. In addition, Forbes magazine, studied 94 smaller metro areas (areas with a total employment in 1999 of 24,000 to 83,000) and ranked the City of Dover 24th. Both surveys compared jobs and earnings, and high-technology growth and output in the metro areas. Forbes' top ranking is the latest national recognition for Delaware's strong economy. Earlier this year, Delaware's economy was rated as one of the best in the nation - for the third consecutive year - by the Corporation for Enterprise Development (CFED), a nationally-recognized economic research organization. Compared to other states, Delaware's economy is among the top 5 in the nation, earning A's and B's in the major grading categories by the national organization. Since 1993, more than 75,000 jobs have been created in Delaware, which also ranks among the top five states in job creation. For seven consecutive years, personal and business taxes have been cut in Delaware. A survey of Fortune 100 companies again ranked Delaware as the state with the fairest and most equitable tax policy in America. Delaware has the second-fastest growth nationwide in median family income and the First State's unemployment rate of 3 percent is the lowest among states in the region and well below the national average. "This national study illustrates that this Administration's economic development strategy has succeeded in creating a strong environment where businesses can locate and grow," Carper said. "By targeting the technology industries -- specifically the biotechnology, information technology and advanced materials sectors -- as areas of growth in Delaware, we are in a prime position to continue bringing additional quality jobs to our state for Delawareans." According to the Forbes-Milken report, "a compelling case can be made that the high-tech sector is boosting the long-term potential growth path of the U.S. economy and determining the relative economic success of metropolitan areas around the country." This has happened in Delaware, where high-technology employment grew more than 58 percent during a 5-year period. The Wilmington/Newark metro area is home to some of the world's most prominent technology companies, including the DuPont Company, AstraZeneca, W.L. Gore and Associates, Hercules, Inc., and Andersen Consulting. The Delaware Technology Park in Newark is host to more than 30 technology-driven businesses and is currently expanding to house five buildings totaling 242,000 square feet. One building will be home for the Delaware Biotechnology Institute, a public-private partnership that is providing scientific research that is helping to develop Delaware's growing life sciences industry. In addition, five state-sponsored Advanced Technology Centers provide research and development in the areas of laser optics, semiconductors, and advanced materials. ILC Dover, InfoSystems, and L.D. Caulk Dentsply Intl, Inc. are just a few of Kent County's technology companies. The City of Dover's recent purchase of 400-plus acres, known as the Garrison Oak Technology Park, provides Kent County with the potential for significant future job growth. In addition, the proposed High Technology Business Incubator, to be located at Delaware State University, will provide additional future job and company growth potential. The top three metro areas according to the Forbes magazine study include Austin-San Marcos, TX; Atlanta, GA; and Santa Rosa, CA. For the smaller metro areas survey, Decatur, IL; Iowa City, IA and Yuma, AZ were the top three. To view the results of the Forbes magazine survey, see www.forbes.com on the web. |
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