Site Expansion - Regional Roundup: Delaware
Regional Roundup: Delaware
Population (2002)
805,945
Workforce population (2002)
423,200
Unemployment rate (10/02)
4.3%
Key cities and populations
Wilmington: 72,485; Newark: 29,652; Dover: 32,299
Targeted industries
Biotech, agriculture, information technology, tourism, banking and finance, transportation, venture capital
Biopharm employment (2002)
15,224
Academia and government affiliated with biopharm industry
Delaware Technology Park; Delaware Biotech Institute; University of Delaware
Primary business strengths
Extensive pool of scientists and engineers; similar industries based in Delaware; broad regional network of specialized suppliers; one of the lowest costs of doing business regionally
Tax and other incentives
Competitive tax structure, including no state or local general sales tax; no personal property or inventory taxes; real property taxes are among the lowest in the US; corporate income tax credits and reduction of gross receipts taxes for new and expanded businesses; additional tax credits on corporate income and reduction of gross receipt taxes for new and expanding businesses locating in 30 targeted census tracts; property tax relief for new construction and improvements of existing property; the exemption of certain investment and holding companies from corporate income tax; the adherence of the state tax structure to the federal definition of corporate net income so companies may take full advantage of any federal tax law change, such as more rapid depreciation of newly purchased assets. Also, two approved foreign trade zones will allow the deferment of import taxes; Public Utility Tax rebates of 50% on increased consumption for qualifying industries, and reduced rate for manufacturers and agricultural processors. (Visit
BioClusters
Delaware Technology Park:
State committment to biopharm industry growth
Legislative funding; restructuring of Delaware Economic Development Office to clusters one cluster is devoted to life sciences and biotechnology; the state plans to continue to attract new biopharm companies
State- and regional-level contacts
Delaware Economic Development Office, 302.577.8477, Bob Dayton
Articles in this issue
Qualifying Release Laboratories in Europe and the United States
Japan: Discover Asia's Largest and the World's Second Largest Biotechnology Market
Operations Excellence: BioPharma Consortium Discusses Key Industry Trends
Keeping Biopharmaceutical Cleanrooms Compliant
Disposable Components Enable a New Approach to Biopharmaceutical Manufacturing
Tefen Operations Excellence
Site Expansion - Regional Roundup: Pennsylvania
Regulatory Beat: Pharmaceutical Pricing and Healthcare Access Lead Policy Agenda
Site Expansion - Regional Roundup: Delaware
Final Word: Beware of Patent Infringement During Discovery Research
StreetTalk: It Takes Two (Or Does It?)
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October 28th 2024Podcast
The nexus between biopharmaceuticals and sustainability is seemingly far apart, however, it is increasingly recognized as an inevitable challenge. It is encouraged to take a sustainable approach to reducing the environmental impact of the production and supply of medicines while improving people's health; delivering the well-being of people and the planet. Yosuke Shimojo (Technical Value Support Section Manager, Nagase Viita) will unveil how SOLBIOTE™, a portfolio of injectable-grade saccharide excipients, would be a key for the biopharmaceutical development and achieving sustainability for a better future of the industry.
