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Delaware is the 23rd Best State for Business 2014

Geographically, Delaware is well-positioned for all types of commerce. There are many ways in which this small but mighty state could move forward, and it will be exciting to follow their growth strategy in the year ahead. The first state to ratify the constitution, Delaware is a favored state for incorporation while still remaining “small and personal,” Gov. Markell said.

Previous State: Missouri Next State: New Hampshire

No. 23 Delaware

Taxations & Regulations

Workforce Quality

Living Environment

Key Metrics
State GDP 

  • % Growth ’12-’13: 1.6
  • % Growth ’11-’12 v. Nat’l Avg. (2.5%): -2.3

Unemployment

  • Unemployment Rate Dec. 2013 %: 6.2
  • Comparison with Nat’l Rate (6.70%): -0.5

Domestic Migration

  • Domestic Net Migration 2013: 3,010
  • Rank: 18

State Government

  • State Debt per Capita Fiscal Year ’13 ($): 6,932
  • State & Local Gov’t Employees per 10k Residents: 598.8

State-Local Tax Burden

  • Rate (%): 9.2%
  • Compared to Nat’l Avg. (9.9%): -0.66%
Key Companies
  • Dupont
  • Delphi Financial
  • Wilmington Trust
Development Trend Indicator: Positive
Job growth booms; regulatory reform offsets modest minimum-wage increase.


Based on CEO Survey by ChiefExecutive.net

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

About JP Donlon

JP Donlon
JP Donlon is the Editor-in-Chief of Chief Executive magazine.