Delaware Invests in Innovations

June 23, 2025

Delaware saw a large amount of economic success in 2024 with a total of $2 billion in capital investment, 7,425 new jobs created, and 75 relocation and expansion projects. The 2024 Annual Report of Delaware Prosperity Partnership reveals that last year was the first in a three year Advanced Prosperity 3.0 plan and it is on track for its main goals. The state lays out a three-year capital investment goal of $800 million and their new jobs goal of 3,600.

Delaware supported six landowners in successful applications for Site Readiness Grant funding in 2024. The total of $5.9 million grants awarded supports an overall anticipated investment of $445 million by businesses. These awards total $23.6 million and represent all-time investment by Site Readiness recipients totaling $856 million.

In 2024, Delaware Prosperity Partnership held its fourth annual Startup302 pitch competition to help local entrepreneurs grow their businesses. This competition provided both prize money and new connections for 15 ventures with underrepresented founders. Finalists earned a share of $170,000 in non-dilutive grant funding, with award sponsorships from Delaware Division of Small Business, Discover Bank, JPMorgan Chase & Co., DuPont, FMC, Highmark Delaware, University of Delaware Horn Entrepreneurship, Ashland, Bronze Valley VentureLab, Delaware Small Business Development Center Community Navigator, The Innovation Space, M&T Bank, and Potter Anderson.

Delaware: A Strategic Hub for Financial Services

Delaware has long been known as the corporate capital of America.

Today, it’s increasingly recognized as a strategic location for operations that involve financial technology, international shipping, and global trade.

Delaware has an unmatched reputation in financial services and the highest concentration of sector jobs of any state, with financial activities accounting for more than one-fifth of the state GDP. In addition, over 60% of Fortune 500 companies are incorporated in Delaware, thanks largely to its world-renowned Court of Chancery, which specializes in corporate law. Not surprisingly, financial institutions and venture capital firms seeking such industry vitality and legal strength also choose to locate operations in Delaware. These include sector leaders like Bank of America, Barclays, Capital One, CitiBank, JPMorgan Chase & Co., M&T Bank, PNC, and WSFS.

Along with traditional financial services, Delaware’s strengths include its emergence as a dynamic base for fintech innovation. New assets like the Fintech Innovation Hub at the University of Delaware’s STAR Campus, the Center for Accelerating Financial Equity (CAFE), and University of Delaware’s fintech degree and research consortium are catalyzing innovation in AI-powered lending models, digital identity, fraud prevention, and embedded financial systems. Fintech operations looking to scale, raise capital, and collaborate with major financial institutions find in Delaware a rare combination of tech-centric regulatory clarity, access to legal and financial expertise, and a deep network of partners. Fittingly, Delaware has achieved the ranks of #1 per-capita and #5 overall in the U.S. for fintech innovation, and innovative fintech firms that call Delaware home include Best Egg, Fiserv, PayPal, and SoFi.

A State of Opportunities

Delaware’s 25 federally designated Opportunity Zones offer investors significant tax incentives, including capital gains deferrals and exemptions, in exchange for investments in real estate, infrastructure, or business operations within the zone. Many are located in and around Wilmington in Northern Delaware and Dover in Central Delaware. The state’s commitment to fast-tracking permitting enhances its appeal.

Foreign-Trade Zone 99 encompasses the entire state and offers significant advantages for companies importing and exporting to Delaware. These include tax savings, lower overhead, larger profit margins, deferred or reduced import duties, simplified customs procedures, and expedited supply chain. As a result, firms importing components, re-exporting goods, or manufacturing products for global markets gain a substantial competitive edge by locating in Delaware.

Additional support for foreign trade includes programs like Export Delaware, which helps businesses expand into international markets through trade missions, funding support, and global connections. These initiatives make Delaware an ideal base for companies aiming to scale their global footprint.

Global Access + Trade Efficiency

Port Wilmington, which is the port of entry for FTZ 99, is a major, full-service international seaport serving 200 million North American consumers. Strategically located at the confluence of the Delaware and Christina Rivers, the port provides direct access to the Atlantic Ocean and is just hours from Philadelphia, Baltimore, Washington, DC, and New York City. Its direct connections to major highways and rail lines enable seamless distribution across the East Coast.

With one of the nation’s largest refrigerated warehouse terminals, spanning over 20 million cubic feet, Port Wilmington is a global leader in fresh fruit, agriproduct, and pharma logistics. A $635 million expansion project includes construction of a new 1.2 million-TEU terminal that will quadruple the port’s container capacity.

A Powerful Mix of Advantages

• Delaware provides fintech firms the legal, regulatory, and capital advantages they need.
• Delaware welcomes companies looking to expand internationally and tap into tax-advantaged zones.
• Delaware’s world-class port offers speed, tax advantages, and lower operating costs.