A report by the Tax Foundation and KPMG ranked Delaware among the top three states in the nation for corporate tax favorability. The report assessed the corporate taxburden in two categories of cities throughout the U.S. based on impacts like property tax, income tax and sales tax. It found Delaware ranked near the top in corporate taxfavorability for new firms, mature firms and the manufacturing sector.
Delaware Strategic Fund: Offers grants and low-interest loans to promote job creation and capital investment.
New Economy Jobs Tax Credit: Offers an annual tax credit of up to 40% of the withholding taxes collected for employers that add at least 200 new jobs with an annual salary of $70,000, or 50 new jobs with salaries of at least $120,000.
New Business Facility Tax Credits: Offers a credit of $500 per employee hired and $500 for every $100,000 in capital invested for companies that create five new jobs and invest at least $200,000.
Transportation Infrastructure Investment Fund: Allows companies to make funded roadmap infrastructure improvements to support job-creating projects.
Workforce Training Grants: Offers matching grants of up to $100,000 per project for workforce training and development.
Delaware Economic Development Authority Division of Small Business
business.delaware.gov/delaware-economic-development-authority
Delaware Prosperity Partnership
choosedelaware.com/state-economic-development-agency
Mayor’s Office of Economic Development, Wilmington, Delaware
wilmingtonde.gov/government/city-departments/office-of-economic-development
The Delaware Innovation Space launched in February 2021 its Science Inc. accelerator program. It brings together a cohort of 10 startups seeking to grow theircompanies with weekly programming, mentoring and coaching, culminating in the Science Inc. Demo Day in June, when each company can pitch to investors andpartners.
Two Fortune 500 companies headquartered in state:
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