Our Delaware Business Resource provides information on permits, business licenses, incorporation, tax registration, and more. Current indicators show the state to be ranked seventh in export growth from 2002 to 2010, and one that provides businesses with an innovative and entrepreneurial environment. With a business-friendly tax environment (ranking eighth nationwide in the state business-climate tax index), Delaware has plenty to offer small business owners.
Going from a $300 million deficit early in 2011, Delaware now finds itself with a surplus of roughly $320 million as taxes, fees and revenue from abandoned properties has stacked up. The state is left with the enviable task of deciding how to allocate the surplus between tax reductions and targeted investments. Either way, the future looks bright for businesses in Delaware.
A new Delaware Business Resource is the state’s “New Jobs Infrastructure Fund,” created to give the state the means to accommodate new businesses seeking to locate in Delaware, as well as provide expansion opportunities for existing businesses. Delaware already has put aside $40 million for this initiative, to be supplemented by a further $20 million of bonding authority.
The state has sought to capitalize on existing industries and relationships that have proven fruitful for Delaware residents. Some of the lesser known industries include automotive manufacturing, biotechnology, chemistry, and health sciences. But for more than twenty years, Delaware has been known for its banking, financial services and insurance industries. In all, this cluster represents more than 1,000 employers and nearly 40,000 employees in Delaware.