Here is Why You Should Invest in Delaware
Are you interested in starting a new business or relocating to a better place? Delaware is the midpoint of the northeast corridor. At Delaware, you have access to the world’s biggest cities by air, interstate highways, and rail. Here is what makes Delaware an investment hub.
Interestingly, Delaware has no sales tax. As such, its cost of living is lower than most of the neighboring states. Its local property taxes are also lower compared to most nearby states. Delaware’s low corporate taxes make it ideal for investment. In fact, Delaware is home to nearly 50% of U.S publicly traded companies.
Delaware’s judicial system is well versed in the business law. A good example is the Court of Chancery in Wilmington. It has a well-regarded forum for solving disputes related to internal affairs of business entities.
Access to capital is a critical building block of any successful investor. First State Innovation sponsors, Leading Edge Ventures, an early-stage venture fund based in Delaware. That helps fund investors at a critical development stage.
The location might not be a big deal, especially for most businesses that rely on computers and online connections. As such, you will need a tech-savvy workforce and fast internet speed as your business grows. Delaware ranks among the states with the fastest internet speed. In 2015, Delaware ranked as the second most industrialized state in the nation. Leading companies such as CitiBank, Barclays, and JPMorgan Chase can now rely on Delaware’s homegrown talent to meet their needs.
The presence of science and pharmaceutical businesses such as Incyte Corp., AstraZeneca, and DuPont Company adds to the strength of Delaware’s workforce. Delaware’s strength in industrial biotechnology, healthcare, advanced materials, and financial and legal services empowers innovators to accelerate and scale their ventures. In fact, DuPont is home to some of the world’s most important discoveries. It’s among the world’s first industrial research laboratories. Today, DuPont Experimental Station serves as a key research site. The facility helps researchers and scientists pursue science-based solutions for global markets. Starting April 2017, the University of Delaware and DuPont will partner to create the Delaware Innovation Space. The initiative will create opportunities for potential entrepreneurs. Delaware also takes pride in a highly skilled workforce and educated talent. Delaware’s leadership strives to meet the current and future talent demands through improved education. Over 26% of Delaware’s residents hold a bachelor’s degree or higher.
If you are looking to hone the skills of your workforce, Delaware Technical Community Technology will help you. The institution has over 50 years of experience producing highly skilled professionals. Again, a recently unveiled program, Pathway to Prosperity prepares high school students for jobs in high-growth industries. Delaware takes pride in its broad range of top educational institutions. In fact, Delaware is home to some of the best high schools in the nation. You will also find some of the highly ranked colleges and universities in Delaware. Just recently, its education system has been recognized nationwide. In fact, Education Commission of the States awarded Delaware the prestigious Frank Newman Award for State Innovation for initiating creative changes to improve student learning. Besides, Delaware is next to Philadelphia, a home to scores of universities and colleges.
As an investor, you know the importance of being surrounded by people whom you share values. Entrepreneurs have now recognized that it’s important to work with each other. Co-working spaces in Wilmington have increased significantly in the recent past. Delaware Technology Park is home to 54 science-technology companies. Again, the Philadelphia-based maker space will soon open a satellite center in Delaware. That will provide an additional outlet for creative crafters and artisans. There is a spirit of innovation in Delaware. In fact, Delaware is seen as more than a state. It’s a large community where businesses, education, governments, and individuals meet to interact with each other.
Delaware has a compact size. As such, its ability to promote collaboration between its four universities and five colleges, leading scientific institutions, the leading business community, and research centers is unmatched by neighboring states.
Besides highly skilled professionals and the working environment, entrepreneurs may find much to like about investing in Delaware. Housing options range from urban homes, planned communities, beach houses to farmhouses. Delaware has the fourth-highest homeownership rate across the United States. Coastal Sussex County beaches have become a popular tourist destination in spring, fall, and summer. Sites surrounding the DuPont Company such as the nearby Longwood Gardens, Winterthur, Hagley Museum, and Nemours attract tourists’ year-around.
If you are interested in a career in arts and culture, Delaware is home to the historic Grand Opera House and opulent. Opened in 1871, the Grand Opera House has been the state’s landmark for over 135 years. The Grand Opera House presents over 75 shows each season. These shows range from ballets, symphony orchestras to the latest rocks and comedy stars. Folk, jazz, and family artists are represented as well. The First State Ballet Theatre, Opera Delaware, and Delaware Symphony are all hosted at the Grand Opera House. The 150-year-old Delaware History Museum attracts professional artists and actors from regional theaters and across the world. Other tourist’s attraction sites include Biggs Museum of American Art, the Delaware Art Museum, the Delaware Theatre Company, and the Delaware Centre for Contemporary Arts.
Overall, Delaware’s assets for investors include a highly skilled workforce, multicultural community, and fast internet speed. Other benefits of investing in Delaware include its strategic location, an agile, supportive and decisive government as well as well-structured taxes and court systems.