State Treasurer Attends Closing Bell at NASDAQ

Event featured World Trade Center Delaware and the Port of Wilmington

State Treasurer Colleen C. Davis visited the NASDAQ Stock Exchange on Monday with World Trade Center Delaware and the Port of Wilmington. The Treasurer and Delawareans attended the iconic Closing Bell ceremony at the Exchange, which celebrated Delaware’s significant contributions to the global economy.

“Delaware’s unique economic environment was on display to an international audience at the stock exchange on Monday,” said Treasurer Davis. “The collaboration between various industries, nonprofits, and governments makes our business atmosphere one-of-a-kind, and is one of the reasons that most companies are incorporated in our state.”

The Treasurer was interviewed by Nasdaq Inc. Director of Global Accounts, Rob Phillips, along with Carla Sydney Stone, President of World Trade Center Delaware, and Dave Harriss, Commercial VP of GT USA Wilmington, the operator of the Port of Wilmington.

Event participants traveled to New York City to meet with private equity investors and international companies with interest in trade, ports, and logistics, as well as attend the closing bell ceremony.


Governor Carney, Delaware Prosperity Partnership to Host Conversations on Economic Development

Public events scheduled in all three counties to discuss Delaware’s economy, economic development

WILMINGTON, Del. – Governor John Carney and the Delaware Prosperity Partnership (DPP) announced community conversations on economic development efforts scheduled in all three counties. Governor Carney, co-chair of the DPP, will join DPP President, W. Kurt Foreman, as well as DPP staff and board members, to provide an update on the public-private partnership that leads economic development for the state.

The Delaware Prosperity Partnership is responsible for attracting, growing and retaining businesses; building a stronger entrepreneurial and innovation ecosystem; and supporting private employers in identifying, recruiting and developing talent in the state of Delaware. The state jointly funds the partnership’s operations with private business.

Governor Carney worked closely with members of the General Assembly to approve the concept and funding for the public-private entity. In August 2017, Governor Carney signed House Bill 226, creating the Delaware Prosperity Partnership and the Division of Small Business within the Delaware Department of State.

Governor Carney signed Executive Order #1 on his first full day in office to create the Economic Development Working Group to explore a new economic development strategy. Governor Carney’s economic development plan was built on recommendations from the Economic Development Working Group. Strategically partnering with the private sector on economic growth was a key recommendation of the Governor’s Action Plan for Delaware.

DPP Community Conversations on Economic Development

Each event is open to members of the public and press.

Tuesday, February 19 – GEORGETOWN

WHO: Governor John Carney
  W. Kurt Foreman, President, Delaware Prosperity Partnership
  Becky Harrington, Director of Business Development, Delaware Prosperity Partnership
  Rob Rider, CEO, O.A. Newton and Delaware Prosperity Partnership Board Member
  Ed Kee, Former Secretary of Agriculture and Delaware Prosperity Partnership Board Member
  State Representative Bill Bush, Delaware Prosperity Partnership Board Member
  State Representative Lyndon Yearick, Delaware Prosperity Partnership Board Member
  State Senator Ernesto Lopez
  State Senator David Wilson
  State Representative Daniel Short

 

WHEN: Tuesday, February 19, 2019
  5:30 p.m.

 

WHERE: Delaware Technical Community College
  Jack Owens Campus
  21179 College Drive
  Georgetown, DE 19947

 

Wednesday, March 20 – DOVER

WHO: Governor John Carney
  W. Kurt Foreman, President, Delaware Prosperity Partnership
  Becky Harrington, Director of Business Development, Delaware Prosperity Partnership
  State Representative Lyndon Yearick, Delaware Prosperity Partnership Board Member
  State Senator Colin Bonini
  State Senator Dave Lawson
  State Representative Kevin Henlsey

 

WHEN: Wednesday, March 20, 2019
  6:00 p.m.

 

WHERE: Delaware Technical Community College
  Charles L. Terry Campus, Jr.
  100 Campus Drive
  Dover, DE 19904

 

Tuesday, April 2 – WILMINGTON

WHO: Governor John Carney
  W. Kurt Foreman, President, Delaware Prosperity Partnership
  Becky Harrington, Director of Business Development, Delaware Prosperity Partnership
  State Representative Lyndon Yearick, Delaware Prosperity Partnership Board Member
  State Senator Anthony Delcollo
  State Representative Krista Griffith
  State Representative Gerald Brady
  State Representative Paul Baumbach
  State Representative Nnamdi Chukwuocha
  State Representative Sherry Dorsey Walker

 

WHEN: Tuesday, April 2, 2019
  6:00 p.m.

 

WHERE: Arsht Hall – University of Delaware
  2700 Pennsylvania Ave
  Wilmington, DE 19806

 


Governor Carney Announces Interactive Website for Opportunity Zones Initiative

New tool to attract private investments in economically-distressed areas

WILMINGTON, Del. – Governor John Carney announced on Thursday a new interactive website highlighting Delaware’s Opportunity Zones across the state. Opportunity Zones are an economic development tool designed to attract private investment and create economic opportunity in economically-distressed communities across Delaware.

In April 2018, Governor Carney announced 25 census tracts as Opportunity Zones in which communities and economically-distressed properties across Delaware could see additional private sector investment. These Opportunity Zones were designated by the U.S. Department of the Treasury. Private investments in Opportunity Zones may qualify for tax incentives.

“Strengthening neighborhoods and communities across Delaware helps improve our economy, stabilize families, and make our state an even better place to live, work and visit,” said Governor Carney. “This Opportunity Zones resource highlights the options in Delaware for additional private investment in areas where it can have the most impact – in economically-distressed communities.”

The interactive website also features a visual StoryMap for visitors to explore Delaware’s Opportunity Zones and learn more about project sites. The website was developed in collaboration with the Office of the Governor, the Delaware Division of Small Business, the Office of State Planning Coordination, the Government Information Center, and the Delaware Prosperity Partnership.

“Opportunity Zones are going to help expand the amount of available capital for developers and businesses, providing them with the resources they need to be successful,” said Damian DeStefano, Director of the Division of Small Business. “We look forward to helping entrepreneurs access Opportunity Zones, especially as a way to help strengthen the state’s downtowns.”

Delaware’s Opportunity Zone tracts include neighborhoods in Wilmington; properties along the Route 9 Corridor in New Castle; areas in Dover, Milford, Georgetown, and Seaford, including the Seaford Nylon Capital Shopping Center; the STAR campus in Newark; and aging industrial sites along the Delaware River in northern New Castle County that are eligible for additional development and cleanup under the Coastal Zone Act.

“Delaware features a tremendous range of Opportunity Zones statewide. These designated areas provide truly attractive investment opportunities that both can benefit investors and build or enhance more vibrant communities,” explained Delaware Prosperity Partnership President Kurt Foreman.

Many of the designated Opportunity Zone tracts are located within Downtown Development Districts, where investors may already qualify for state investment rebates, local tax abatements, affordable bridge loans, and other state and local incentives. Since the downtown program launched in 2015, roughly $24 million in state-funded investment rebates has leveraged $420 million of additional public and private investment in Dover, Georgetown, Harrington, Laurel, Milford, Seaford, Smyrna and Wilmington. Governor Carney’s Fiscal Year 2019 budget included an additional $8.5 million for the program.

The new website also will serve as a resource for the upcoming Opportunity Zone Summit on December 5 at the University of Delaware’s STAR Campus. The Summit, hosted in partnership with the Biden Institute and the Office of the Governor, will engage government officials, developers, investors and business leaders in discussions about Delaware’s Opportunity Zones.

Attendees can register for the summit by clicking here.

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ICYMI: Governor Carney Highlights $4 Billion Infrastructure Investment Plan

DOVER, Del.— Governor John Carney joined Secretary of Transportation Jennifer Cohan on Monday to highlight infrastructure investments that will be made throughout the state as part of the FY20 – FY25 Capital Transportation Program. Currently, more than $3.2 billion in infrastructure work is planned for Delaware’s transportation network over the next six years. When including FY19 in the total, the investments total $4 billion.

Notable projects include the widening of SR 1 north and south from Route 273 to the Roth Bridge in New Castle County, the US 13 Camden Widening project in Kent County, and the SR 1 Minos Conaway Grade Separated Intersection in Sussex County.

“With these investments, we are modernizing our transportation system statewide,” said Governor Carney. “This is the kind of smart, infrastructure investment that will create jobs, alleviate congestion, and lead to real economic growth statewide. Thank you to members of the General Assembly for helping us fund these important investments.”

 
“While we have many large infrastructure projects scheduled around the state, we’ll are also investing more than $100 million in public transportation and rail, $80 million in road paving and rehabilitation projects, as well as $20 million in sidewalk improvements to meet Americans with Disabilities Act (ADA) standards,” added Secretary Cohan.

“Today’s announcement sends a clear to message to Delawareans: our state is growing and improving rapidly and all of us in state government are serious about making the kinds of infrastructure investments to support that growth,” said Senator Stephanie Hansen, Chair of the Senate Transportation Committee. “Our state prides itself in working together to get things done, and infrastructure is one of the key tests of how well a government functions. I think we are passing that test here and it will make for a safer, more efficient state and a stronger economy in the years and decades to come.”

“These infrastructure investments will impact communities throughout Delaware, creating jobs, easing congestion and improving the lives of Delawareans by fostering an efficient transportation system,” said Representative Ed Osienski, Chair of the House Transportation, Land Use and Infrastructure Committee. “These investments are substantial, and I look forward to seeing the continued progress.”

Each year, DelDOT develops a 6-year Capital Transportation Plan (CTP) that identifies anticipated capital investments. This plan is developed in cooperation with the Wilmington Area Planning Council (WILMAPCO), Dover/Kent County Metropolitan Planning Organization and Sussex County government. The plan provides information on the actual cost expenditures for each project phase that are anticipated in each specific fiscal year. The Council on Transportation provides final approval of the CTP by March 1st of the following year. For more information visit the DelDOT website.

Video from Monday’s event can be found here.

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Governor Carney’s Statement on DuPont’s Purchase of Newark Manufacturing Facility

DOVER, Del. – Governor John Carney on Wednesday issued the following statement on DuPont’s announcement of the company’s $45 million purchase and expansion of a facility in Newark to manufacture the specialized engineered material Kalrez:

“DuPont’s announcement on Wednesday reaffirms that Delaware remains a great place for any company to put down roots, grow and create jobs. Delaware has a talented and dedicated workforce, an ideal location and quality of life that’s second to none. We stand ready to support any business, large or small, that is seeking a great location to grow and thrive.”