Tag: DPP in the News

Delaware reclaims top spot in legal climate ranking

Delaware Reclaims Top Spot in Legal Climate Ranking

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Delaware reclaims top spot in legal climate ranking

18 SEPTEMBER, 2019  | DELAWARE BUSINESS TIMES

September 17, 2019 – Delaware’s lawsuit climate has reclaimed the number one ranking in the U.S. Chamber Institute for Legal Reform‘s (ILR) national survey. Starting in 2002, the state ranked in first place every year until dropping to 11th place in 2017.

The drop in ranking took place after the General Assembly banned “loser pays” provisions in company bylaws that required shareholders who file and lose lawsuits to reimburse companies’ legal fees.

ILR said that the Chancery Court has since reigned in “frivolous lawsuits.” In 2016, the Chancery Court prohibited “disclosure only” settlements in merger and acquisition lawsuits.

“Hands down, Delaware has some of the most competent and experienced judges and stable legal system in the country,” said Harold Kim, chief operating officer of the U.S. Chamber Institute for Legal Reform. “As long as the state legislature doesn’t try to interfere with that, Delaware will continue to be a great state in which to do business.”

According to the survey, 89 percent—an all-time high—said a state’s lawsuit environment is likely to impact their company’s decisions about where to locate or do business.

The 2019 Lawsuit Climate Survey: Ranking the States is the 12th time The Harris Poll has conducted the survey since 2002 for the U.S. Chamber Institute for Legal Reform.

The final results are based on interviews with a national sample of 1,307 in-house general counsel, senior litigators or attorneys, and other senior executives who are knowledgeable about litigation matters at public and private companies with annual revenue of at least $100 million.

This article was originally posted on the Delaware Business Times at: https://www.delawarebusinesstimes.com/delaware-reclaims-top-spot-in-legal-ranking/

Kurt Foreman

PRESIDENT & CEO

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Automotive Center of Excellence

Del Tech Breaks Ground on Automotive Center of Excellence

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Del Tech breaks ground on Automotive Center of Excellence

12 SEPTEMBER, 2019 | DELAWARE STATE NEWS

GEORGETOWN — Delaware Technical Community College broke ground Thursday on a 13,500-square-foot Automotive Center of Excellence on the college’s Owens Campus in Georgetown.

This facility, along with the college’s new training center in Middletown, will house the first diesel mechanic training program in the region.

The ACOE will double the number of automotive technicians trained at Delaware Tech in Georgetown each year from 20 to 40 and will allow the College to train up to 15 diesel mechanics per year.

“The construction of this facility is in direct response to a dire workforce need for more diesel mechanics and auto technicians in our state and our region,” said Delaware Tech President Mark T. Brainard. “We are thankful for the generous support of our government and community partners, who are the reason we are able to break ground on this project today.”

The expected completion date for the ACOE is November 2020.
Delaware Tech received a $1.97 million grant from the U.S. Department of Commerce’s Economic Development Administration to support construction of the facility, along with $1.8 million from the state’s Higher Education Fund, and $120,000 from Sussex County Council.

This funding is in addition to generous support from many organizations and individuals in the state.

“For years we’ve heard that there are just not enough auto technicians in Delaware, which is why I’ve long supported the Economic Development Administration grant to help this Automotive Center for Excellence program get up and running, and I’ve waited a long time for this groundbreaking,” said U.S. Senator Tom Carper. “This center will give students on Delmarva a great-paying trade to learn, allow them to stay and raise a family in the area instead of moving away for work, and give our area dealerships and diesel operators the workforce they so desperately need. This is a win-win for Delaware’s economy now and in the future.”

The total cost to build the ACOE is $5.4 million. In addition to the government support noted, more than a dozen organizations and individuals have pledged donations that enabled Del Tech to secure the 35 percent match required by the EDA including the USDA Rural Development program and the Delaware Automobile and Truck Dealers’ Association.

Labor market data indicate more than 3,000 automotive technicians and more than 800 diesel mechanics are employed across Delmarva with average annual earnings of $39,874 and $44,595, respectively.

Over the next 10 years, the region is projected to have 3,278 openings for automotive technicians due to retirements, job turnover and a 7 percent growth rate.

An estimated 948 job openings are expected for diesel mechanics in the same period due to retirements, job turnover and a 17 percent growth rate.

This article was originally posted on the Delaware State News at: https://delawarestatenews.net/news/del-tech-breaks-ground-on-automotive-center-of-excellence/

Kurt Foreman

PRESIDENT & CEO

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Economic Gardening Initiative

Sussex County is Launching the Economic Gardening Initiative for Growth Companies

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Sussex County is launching the Economic Gardening Initiative for growth companies

20 AUGUST, 2019 | TECHNICAL.LY DELAWARE

Sussex County has a new economic development program for growing businesses: the Economic Gardening Initiative, a program offering resources and capital to “second-stage companies.”

It’s not about growing vegetation, but local businesses. Economic gardening was developed by the National Center for Economic Gardening in 2001; this will be its first launch in Delaware.

Companies targeted in the county’s Economic Gardening Initiative will be those that have grown out of the “startup” level (also known as scaling or emerging growth companies) but are not yet mature companies. Generally these companies employ about 10 to 99 workers, with annual sales revenues of $1 million to $50 million.

Sussex County Council has authorized up to $25,000 for the initiative, with a maximum of $5,000 per second-stage business in the first year. Selected businesses will also be assigned a national strategic research team focusing on the areas of core strategies, market dynamics, innovation and qualified sales leads.

The program is “not a program established for companies that are in trouble or companies that need specific assistance, such as an inventory type of process,” Sussex County Economic Development Director Bill Pfaff said in a news release. “Rather, this is really for companies that are beyond the start-up phase and have the desire to grow to the next level.”

With the high-speed wireless broadband being built into Sussex County’s infrastructure, downstate businesses, from agriculture to IT, have a lot of growth potential over the next few years. A goal of the initiative is to bring money and jobs into the county. If your company is on track to do that, it may be worth applying.

There’s no online application — instead, you’ll have to call the Sussex County Economic Development Office at 302-855-7770. The application deadline is Aug. 26.

Kurt Foreman

PRESIDENT & CEO

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Governor Carney

Gov. Carney Designates Four Cities as Downtown Development Districts

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Gov. Carney designates four cities as Downtown Development Districts

20 AUGUST, 2019 | DELAWARE PUBLIC MEDIA

Gov. John Carney is designating New Castle City, Middletown, Clayton and Delaware City as Downtown Development Districts.

The selections mean property owners and developers can get up to 20 percent of their construction costs refunded back to them for eligible redevelopment projects.

State Rep. Jeff Speigleman represents parts of Middletown and Clayton. He said plenty of projects in the eight other development districts would not have gotten done without this program. He points to the House of Coffi in Dover as one example.

“Right around the corner from Legislative Hall, which has become a meeting place for legislators and lawyers,” he said. “One of those like neat little coffee shops that people love where a lot of us get business done, doesn’t happen without the DDD.”

Carney said the program is very successful and will help the economies of smaller cities and towns by leveraging state funding and private investment.

“It’s also a signal that the economic development efforts of the state are not just geared towards larger businesses and large corporations and big banks, which are an important part of our economy, but small businesses as well,” he said.

Former Gov. Jack Markell designated the eight current Downtown Development Districts, which include Dover, Seaford, Harrington, Georgetown and Wilmington.

Lawmakers approved $8.5 million for downtown redevelopment in this year’s budget. Delaware State Housing Authority Director Anas Ben Addi said the program has issued $31.6 million in rebates, leveraging $597 million in private investment.

This article was originally posted on the Delaware Public Media at: https://www.delawarepublic.org/post/gov-carney-designates-four-cities-downtown-development-districts

Kurt Foreman

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delaware agribusiness farming 21st century

Delaware Agribusiness – Farming the 21st Century Way

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Delaware Agribusiness – Farming the 21st Century Way

Local Ag R&D is growing; Farmland is increasingly protected

WILMINGTON, Del., July 19, 2019. The Delaware agribusiness sector is growing, as ag-science companies expand their presence and the state approves additional farmland preservation.

FMC Corporation plans to invest more than $50 million over the next three years in capital improvement projects, including a state-of-the-art reconfiguration of a greenhouse and research facility at the company’s Global Research and Development headquarters in Newark, Delaware.

Last month, FMC Corporation, an agricultural sciences company, announced a $50M investment to completely reconfigure a new greenhouse complex and perform other site improvements at its global R&D headquarters in Newark, Del. In May, Corteva Agriscience spun off from DowDuPont (keeping its Delaware headquarters) to become the leading agricultural sciences firm, with an estimated $14B in annual revenue. And last year, Belchim, a Belgian chemical crop protection company, established its U.S. headquarters in Delaware to capitalize on the state’s concentration of bioscience firms and talent.

To support the sector, Delaware Governor John Carney announced new farmland preservation. More than 25 percent of Delaware’s farmland (134,000 acres) is now permanently preserved, thanks to matching funds from multiple sources, including the USDA Natural Resources Conservation Service, Agricultural Conservation Easement Program (ACEP), the United States Navy’s Readiness and Environmental Protection Integration Program, Sussex County Council, New Castle County Council, and Kent County Levy Court.

Agribusiness in Delaware

Ag-science and Agtech are reinventing one of America’s legacy sectors – farming. That’s part of the reason Delaware has one of the nation’s most successful farm industries in the country. Ed Kee, DPP Board member and Delaware’s former Secretary of Agriculture explains, “Nothing can replace the experience, know-how, and powers of observation of the farmer.” In Delaware, agriculture is the single largest land use with nearly 40 percent of land across 2,500 farms devoted to agricultural production. And it pays off—in 2017, Delaware ranked second in the nation in per-farm sales, with an average of $637,000 per farm, which was significantly greater than the national average of $190,000 per farm.

Most farms in Delaware, 39 percent of the total, are between 10 to 49 acres and produce commodities such as lima beans, soy, corn, and wheat. In fact, Delaware produces the most lima bean of any state in the nation—more than one-third of the U.S. total. The annual harvest of more than 350,000 acres of corn and soybeans is used to produce chicken feed, with almost $1 billion of chicken feed ingredients purchased across the Delmarva Peninsula in 2017.

Poultry Production

Statewide, Delaware farmers produced 1.87 billion pounds of chicken in 2017. Sussex County, Delaware is the #1 producer of poultry and eggs in the nation. The county is considered the birthplace of the broiler chicken industry, and it continues to be the top broiler producing county in the United States. Poultry production companies like Mountaire Farms and Allen Harim Foods call the state home. Perdue Farms in Milford, Delaware is the nation’s largest USDA-certified organic chicken plant.

About Delaware Prosperity Partnership

Created in 2017, Delaware Prosperity Partnership (DPP) is the nonprofit that leads the state of Delaware’s economic development efforts to attract, grow and retain businesses, including agribusiness companies. DPP works with site selectors, commercial developers and business executives focused on where to locate or grow a business. The team helps with reviewing potential sites, cost-of-living analysis, quality-of-life intel and funding opportunities, including available tax credits and incentives. For more information, visit www.choosedelaware.com.

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Governor Signs Road Investment Fund Legislation

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Governor signs road investment fund legislation

13 AUGUST, 2019 | DELAWARE BUSINESS NOW

Gov. John Carney on Wednesday signed Senate Bill 61, legislation that establishes the Transportation Infrastructure Investment Fund (TIIF) to allow businesses to make roadway infrastructure improvements.

The signing took place at a new bridge over the Christina River.

TIIF aims to attract new businesses to Delaware, expand existing Delaware businesses, and create jobs. Governor Carney called for the creation of a new Transportation Infrastructure Investment Fund in his 2019 State of the State Address.

“This legislation is really about creating good-paying jobs for Delaware workers and their families,” said Carney. “As I said in my State of the State Address in January, TIIF will allow us to react quickly to important economic development projects that require upgrades to roads or other infrastructure. This new fund is just part of our efforts to modernize Delaware’s transportation system – and to fix roads, bridges, and potholes across our state. Investments in our transportation infrastructure make it easier and safer to travel across Delaware, and help us attract development from new and existing businesses. I want to thank members of the General Assembly for their partnership on this important issue.”

“Under Governor Carney’s leadership, DelDOT has been committed to streamlining our review process for businesses that want to locate and expand in Delaware,” said Secretary of Transportation Jennifer Cohan. TIIF is another tool in our toolbox that will assist us in attracting businesses and grow our economy.”

Through 2025, the State of Delaware will invest $3.9 billion to modernize Delaware’s roads and bridges, improve safety, alleviate congestion on Delaware roadways in all three counties, and attract new business development and good-paying jobs, a release stated.

The Fiscal Year 2020 budget includes $10 million for the new infrastructure fund. The fund will be managed by the Transportation Infrastructure Investment Fund Council, a nine-member council established by the legislation. The council will consider applications and make funding recommendations to Delaware’s Transportation Secretary and the Secretary of State.

“On behalf of the American Council of Engineering Companies of Delaware and its nearly 1,000 practicing engineers in Delaware we are thrilled to support infrastructure investment in our state,” said ACEC President, Dave DuPlessis. Infrastructure connects households to higher quality opportunities for employment, healthcare and education. It is critical to the success of our state. We look forward to designing the next wave of projects that will benefit from the TIIF.”

This article was originally posted on the Delaware Business Now at: https://delawarebusinessnow.com/2019/08/governor-signs-road-investment-fund-legislation/

Kurt Foreman

PRESIDENT & CEO

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Agribusiness Thrives in Delaware

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Agribusiness Thrives in Delaware

5 AUGUST, 2019

Agribusiness companies are strengthening their foothold in Delaware as the state continues to be a favored destination for food production and agscience companies to invest in and grow. Agriculture in Delaware has been there since colonial times. Today, approximately 500,000 acres generates about $1.2 billion a year in cash farm sales. In Delaware, this noble industry produces food for the country and the world.

Agriculture is the driving force behind Delaware’s economy. Farming is still a family business in the First State. About 90 percent of farms are either sole or family proprietorships or family-owned corporations. Just under 40 percent of the state’s land is devoted to agricultural production, making it the predominant land use.

Major agribusiness companies continue to heavily invest in the state, generating jobs and furthering Delaware’s economy. Read on to learn how some of the leading businesses in the agribusiness industry are building a prosperous future in Delaware.

Dot Foods Plans its 12th Distribution Center in Delaware

Dot Foods, the largest food industry redistributor in North America, is setting up a new $36-million facility on 35 acres of land in Bear, Delaware to better serve its customers in Eastern Pennsylvania, New Jersey, New York, and Connecticut. This new center will include more than 111,000 square feet of refrigerated, frozen and dry storage warehouse space, 12,600 square feet of office space, and a 9,700 square foot garage. They plan to employ 200 people by 2022.

JustFoodForDogs Finalizes Plans to Invest in New Castle County

JustFoodforDogs is the breakthrough innovator offering highly nutritious meals for dogs. Based in California for the last 8 years, JustFoodforDogs has finalized its plans to expand all over the country, including Delaware. It plans to set up its first Delaware kitchen spread over an expansive 21,000 square foot space in New Castle County. This is expected to employ 50 employees with an estimated payroll of $2.24M, producing 30,000 pounds of food daily to be distributed direct-to-consumer via online sales, as well as to JustFoodsforDogs pantries throughout the United States.

“JustFoodForDogs choosing Delaware reflects our state’s reputation for welcoming innovative businesses of all sizes, as well as Delaware’s solid experience and expertise in the food industry,” said Governor John Carney. “We are proud to be the first East Coast kitchen and we’re excited that their presence will create new jobs in New Castle County.”

Perdue Named “America’s Best-In-State Employers 2019”

Forbes has named Perdue Farms one of “America’s Best in-State Employers 2019” in North Carolina and Delaware. Perdue Farms, Perdue Foods, and Perdue Agribusiness have more than 6,000 employees in Delaware. Believing in responsible food and agriculture, they are empowering consumers, customers, and farmers through trusted choices in products and services. Their future is all about getting bigger and getting better.

FMC Plans Investment in Delaware

FMC Corporation, a publicly-traded agricultural sciences company, plans to invest more than $50 million over the next three years in capital improvement projects, including a state-of-the-art reconfiguration of a greenhouse and research facility at the company’s Global Research and Development headquarters in Newark, Delaware. A leader in developing agricultural products, FMC continues to contribute significantly to the economic progress of the First State.

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Delaware’s Fintech Boom is Already Here

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Delaware’s Fintech Boom is Already Here

25 JUNE, 2019 

If you’re still waiting for fintech to explode in Delaware, you may be looking at it in terms too narrow.

“It already has,” says John Taylor, director of economic research for the Delaware Prosperity Partnership, who recently completed an in-depth report on fintech in Delaware along with First State Fintech Lab and University of Delaware’s Institute for Public Administration.

The view that fintech has yet to truly materialize in Delaware is fueled by a definition that hyper-focuses on the startup sector and disregards established financial institutions as not real tech companies.

As we’ve written over the past few years, companies such as JPMorgan Chase and Capital One are tech companies. Once you factor in the evolution of banks — and their large pool of Delaware tech jobs — the Wilmington fintech boom materializes.

(Fun fact: Delaware accounted for 75% of all fintech investment in the Philadelphia region in 2018.)

“We think taking the broad view makes a lot of sense here, particularly from a workforce angle,” said Taylor in an interview with Technical.ly. “A major reason early stage fintech companies are so interested in Delaware is because of our strength in the broader financial services space — they know they can hire folks with talent on the financial services side, the credit risk analysis side and tech talent.”

While several digital-born fintech companies such as Paypal, Acorns and SoFi have bases in Delaware, and homegrown fintech startups like Fair Square Financial and Marlette Funding continue to grow, they’re only half of the picture.

“Just focusing on the startup side of things really misses a big piece of what fintech has become,” said Taylor. “Particularly if you look at the increasing synergy between startups and established firms. We’re seeing more acquisitions in this space, as some of those larger firms look to grow their services.”

How much impact does fintech have in Delaware?

“Right now, we have the most jobs we’ve ever had in Delaware, about 465,000 jobs in the state; unemployment is 3.2%; and financial services is really a significant driver of our economy: We’ve got nearly 48,000 jobs, up from about 41,000 at the bottom of the recession,” said Taylor. “We’ve seen some pretty significant growth, and fintech accounts for about 9% of employment in the state, the highest share of any state in the country — about double the national average.

“And these jobs are at firms of all shapes and sizes,” he said. “One of the rules of our report was to help bring in some clarity and shared understanding to what that means and some of the trends.”

Delaware is #1 in patents issued in the United States. (Screenshot via Delaware Prosperity Partnership report)

And it’s not just jobs: “We’re not just an employment, hub, but really a hub for innovation,” Taylor said.

“One thing I found particularly interesting was that when we looked at some data over the last decade in fintech-related patenting activity, we found almost 200 over that time, which ranked Delaware first nationally on a per capita basis,” he said. “That accounts for where these companies and individuals are based, not necessarily where the patent is created. And even if we look at that, we still rank second.”

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Are these Banking, Tech, or Fintech Jobs? Does it Matter?

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Are these banking, tech, or fintech jobs? Does it matter?

25 JUNE, 2019

Are JP Morgan Chase and Capital One tech companies, banks, or fintechs?

While the answer is probably “yes” (or all of the above), the better response might be “Does it matter?”

I have a great deal of sympathy for the challenge that faced John Taylor, director of economic research for the Delaware Prosperity Partnership. Taylor recently completed an in-depth report on fintech in Delaware along with First State Fintech Lab and the University of Delaware’s Biden School of Public Policy & Administration.

Most of the jobs data is federal, with labor-market detail that hasn’t kept pace with the evolving realities of the job market. Here in Delaware, the state has little control over how jobs are defined. The numbers are different if you look at them by occupation than if you look at them by industry.

Back in our April 30 issue, I ran into this challenge when tracking the growth of banking jobs in Delaware (versus some views that the number was shrinking). It was unclear, for example, whether the 2,500 jobs that Chase has added to its Concord Pike technology center are technology or banking jobs. They’re not fintech jobs — at least as defined by the state — because there is no such category, a fact that seemed to startle Chase Market President Tom Horne.

Are Cap One and Chase (and perhaps others) tech companies as some claim? They’re certainly looking for technologists — Taylor’s team checked real-time job posting data for 20 financial-services firms with the most openings and found that 20% were tech-related. With some, the number was closer to 40%.

While a lot were indisputably new jobs, many were likely replacements due to poaching by competitors or people getting hired by Delaware companies outside the financial sector. It will be interesting to see how many of the 500 technology jobs that Barclays is sending to New Jersey later this year will decide to stay here in Delaware, a decision that will likely be made based on their ability to find work here and living costs.

But that takes us back to the question of whether the “fintech” characterization matters. Delaware banks do need more technologists to create products that attract or retain customers (Wilmington Trust/M&T is hiring those kinds of workers, as are others) in a world that requires a much greater digital focus. 

We have true fintech startups like Acorns and SoFi whose founders cut their teeth at MBNA and First USA and now want to hire people who helped build those cultures

There’s a lot of great data in the terrific “Delaware in a Fintech Future” report, including: 

  • Delaware ranked first in the country for per-capital fintech patents assigned from 2009-2018 with 20.6 per 100,000 population (South Dakota ranked second with 4.2), and fifth nationally in terms
    of the absolute number (we had 199).
  • Delaware has the highest concentration of tech workers in the country, according to the 2018 U.S. Bureau of Labor Statistics.
  • Financial services firms with at least 250 employees accounted for 91% of statewide financial services employment in 2017, up from 88% in 2007. It will be interesting to see how this number changes in the next report, given the growth in fintech startups covered throughout the rest of the 37-page report.
  • None of the 70 independent fintech-related venture capital firms based in the United States list Delaware as their primary place of business or even have an office here.

After reading reports like this, I like to ask the authors or sponsors what their takeaways are. 

Delaware Prosperity Partnership President and CEO Kurt Foreman believes that in-depth analysis like the new report helps provide potential prospects accurate, reliable content that can help inform their decision-making. 

“As the state’s lead economic development resource, DPP is well positioned to produce in-depth reports on Delaware’s core sectors — in this case, financial services,” Foreman said. “This report and others we plan to do help shine a light on Delaware’s distinctive value proposition. Attracting businesses to consider Delaware is a multifaceted process and research and analysis plays an important role.” 

First State Fintech Lab Co-Founder John Collins said he’s most proud of how different groups, with different missions, can come together in a truly collaborative fashion.

“Look, Delaware is a great and special place, but the world is only getting smaller and competition is only growing,” Collins said.  “It would be great if we can have a large company who can employ a lot of people, but we should think about how we can grow that locally as much as we look outside. We outline ways to do that in the report and they deserve serious consideration. I think we need to fight for the livability of the state. That means strengthening public education, supporting responsible development and roads that work, and providing access to opportunity for kids whether they live in Greenville, Townsend, or Dagsboro so they are prepared for this new economy.”

Here are my thoughts:

  • Determine where the technology-job gap is between not only fintechs but other Delaware industries like health care and manufacturing and then build programs to develop those students.
  • Help the state Department of Labor fine-tune its processes to better clarify whether jobs are banking or technology and create a “fintech” category so we can better track job movement.
  • Continue to focus on encouraging independent fintech-related venture capital firms to open offices in Delaware. This is one of our goals for Innovation Delaware 2020 — to help make the case for bringing investors to Delaware to see why we’re the First State for Innovation.

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FMC Announces $50 Million Investment in Newark Facility

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FMC announces $50 million investment in Newark facility

25 JUNE, 2019

FMC Corporation is planning to invest $50 million in its Stine Research Center in Newark, officials announced late Monday.

The Philadelphia-based agricultural sciences company acquired the 515-acre site on Elkton Road from DuPont in 2017. Stine serves as FMC’s global research and development center.

“We will invest nearly $2 billion in research and development through 2023 as a cornerstone of FMC’s long-term growth strategy,” Mark Douglas, president and chief operating officer, said in a prepared statement. “FMC employees at the Stine Research Center will lead much of this critical discovery and development work to serve our global business and customers. We’re pleased to partner with the State of Delaware to further our investment in the area.”

 

FMC will receive $1.6 million in incentives from the state’s Delaware Strategic Fund, though that money is contingent on the company meeting employment benchmarks, according to Sarah Kenney-Cruz, a spokeswoman for the Delaware Prosperity Partnership.

FMC is expected to hire 13 new employees over the next three years, including professional scientists and skilled associates, adding $1.3 million to the payroll. The Stine site already employs approximately 600 people, including support staff and contractors.

“FMC is making a significant new investment in Delaware, and in a campus that has long been a center of world-class biotechnology and agriscience research,” Gov. John Carney said in a prepared statement. “This investment in Newark will support good-paying jobs for Delawareans and their families, and the continued growth of our state’s economy. It’s more true than ever that Delaware has a world-class workforce, and a quality of life that is second to none. And these investments by FMC help reaffirm that our state is a great place for businesses of all sizes to put down roots, grow, and create good-paying jobs.”

Emily Parenteau, a spokeswoman for FMC, said the work will include a state-of-the-art reconfiguration of a greenhouse as well as improvements to a research building and the purchase of additional equipment and infrastructure.

FMC produces a number of herbicides, pesticides and fungicides for farming, though the Newark site is used for research and development, not manufacturing.

“Over the years, FMC has been a leader in developing agricultural products that our farmers need,” Delaware Secretary of Agriculture Michael T. Scuse said in a prepared statement. “As a global agricultural leader, we are excited to have their research facilities based in Delaware and their continued investment in the First State.”

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FMC Corporation Plans $50 Million Investment in Global Research and Development Headquarters in Newark, Delaware

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FMC Corporation plans $50 million investment in Global Research and Development Headquarters in Newark, Delaware

(Wilmington, Del.) FMC Corporation (NYSE: FMC), a publicly traded agricultural sciences company, plans to invest more than $50 million over the next three years in capital improvement projects, including a state-of-the-art reconfiguration of a greenhouse and research facility at the company’s Global Research and Development headquarters in Newark, Delaware.

FMC acquired the 515-acre Stine Research Center campus as part of its acquisition of a portion of DuPont’s crop protection business in 2017.  The transaction was the largest in FMC history and retained more than 500 jobs in Delaware, transferred 45 employees from a nearby state and created 19 new positions.

“FMC is making a significant new investment in Delaware, and in a campus that has long been a center of world-class biotechnology and agriscience research,” said Governor John Carney. “This investment in Newark will support good-paying jobs for Delawareans and their families, and the continued growth of our state’s economy. It’s more true than ever that Delaware has a world-class workforce, and a quality of life that is second to none. And these investments by FMC help reaffirm that our state is a great place for businesses of all sizes to put down roots, grow, and create good-paying jobs.”

“Over the years, FMC has been a leader in developing agricultural products that our farmers need,” said Delaware Secretary of Agriculture Michael T. Scuse.  “As a global agricultural leader, we are excited to have their research facilities based in Delaware and their continued investment in the First State.”

FMC plans to reconfigure an existing structure at the facility to enhance its global research and development (R&D) efforts.  In support of the project, the company plans to hire 13 employees over the next three years, which would bring its total of full-time R&D employees at the Delaware campus to approximately 375.  The new positions include professional scientists and skilled associates, adding approximately $1.3 million to its annual payroll.  The site’s total workforce of nearly 600 includes support staff and contractors.

“We will invest nearly $2 billion in research and development through 2023 as a cornerstone of FMC’s long-term growth strategy,” said Mark Douglas, president and chief operating officer.  “FMC employees at the Stine Research Center will lead much of this critical discovery and development work to serve our global business and customers.  We’re pleased to partner with the State of Delaware to further our investment in the area.”

To support its expansion, the Council for Development Finance (CDF) approved a grant for $1,642,500 from the Delaware Strategic Fund, including $142,500 for a performance grant and $1.5 million for a capital expenditure grant.  The grant supplements the company’s own investment over a three-year period.  Both grants are contingent upon meeting employment benchmarks.

About Delaware Prosperity Partnership
Created in 2017, Delaware Prosperity Partnership (DPP) is the nonprofit that leads the state of Delaware’s economic development efforts to attract, grow and retain businesses, including agribusiness companies. DPP works with site selectors, commercial developers and business executives focused on where to locate or grow a business. The team helps with reviewing potential sites, cost-of-living analysis, quality-of-life intel and funding opportunities, including available tax credits and incentives. For more information, visit www.choosedelaware.com.

About FMC
FMC Corporation, an agricultural sciences company, provides innovative solutions to growers around the world with a robust product portfolio fueled by a market-driven discovery and development pipeline in crop protection, plant health, and professional pest and turf management. This powerful combination of advanced technologies includes leading insect control products based on Rynaxypyr® and Cyazypyr® active ingredients; Authority®, Boral®, Centium®, Command® and Gamit® branded herbicides; Talstar® and Hero® branded insecticides; and flutriafol-based fungicides. The FMC portfolio also includes biologicals such as Quartzo® and Presence® bionematicides. FMC Corporation employs approximately 6,500 employees around the globe.

FMC, the FMC logo, Rynaxypyr, Cyazypyr, Authority, Boral, Centium, Command, Gamit, Talstar, Hero, Quartzo and Presence are trademarks of FMC Corporation or an affiliate. Always read and follow all label directions, restrictions and precautions for use. Products listed here may not be registered for sale or use in all states, countries or jurisdictions. Hero® insecticide is a restricted use pesticide in the United States.

 

Statement under the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995:  FMC and its representatives may from time to time make written or oral statements that are “forward-looking” and provide other than historical information, including statements contained in this press release, in FMC’s other filings with the SEC, and in reports or letters to FMC stockholders.

In some cases, FMC has identified forward-looking statements by such words or phrases as “will likely result,” “is confident that,” “expect,” “expects,” “should,” “could,” “may,” “will continue to,” “believe,” “believes,” “anticipates,” “predicts,” “forecasts,” “estimates,” “projects,” “potential,” “intends” or similar expressions identifying “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including the negative of those words and phrases.  Such forward-looking statements are based on management’s current views and assumptions regarding future events, future business conditions and the outlook for the company based on currently available information. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any results, levels of activity, performance or achievements expressed or implied by any forward-looking statement.  These factors include, among other things, the risk factors included within FMC’s 2018 Form 10-K filed with the SEC.  FMC cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made.

This press release contains certain “non-GAAP financial terms” which are defined on our website www.fmc.com.  In addition, we have also provided on our website at www.fmc.com reconciliations of non-GAAP terms to the most directly comparable GAAP term. 

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Delaware Cook Apprenticeship Program

Delaware’s First Restaurant Apprentice Program Set to Launch in Rehoboth

Written on . Posted in In the News.

Delaware’s first restaurant apprentice program set to launch in Rehoboth

6 JUNE, 2019 | TECHNICALLY DELAWARE

The Delaware Restaurant Association and Secretary of Labor Cerron Cade are launching a Registered Apprenticeship Program for culinary professionals in the restaurant industry — a major expansion of an on-the-job training program that primarily focuses on more traditional trades like plumbing and construction.

The Delaware Cook Apprenticeship Program will have its pilot program in Sussex County, with a kickoff at Bluecoast Seafood Grill & Raw Bar in Rehoboth Beach on March 29.

The program features both on-the-job training and classroom instruction, with apprentices earning certifications and pay increases as they complete skills assessments.

“I’m very excited to announce this new apprenticeship opportunity for Delawareans,” Cade in a press statement. “With the strong and steady growth of the food services industry, this is a great example of government and industry working together to ensure that worker and employer needs are met. Apprenticeship is an excellent workforce training tool that is being used more and more by local, regional and global employers.”

The Cook Apprenticeship Program is modeled on the Delaware Restaurant Association’s successful ProStart culinary and management curriculum, part of Delaware’s Pathways to Prosperity program, reaching over 3,000 students in 18 local high schools, including McKean High School and William Penn High School.

Kurt Foreman

PRESIDENT & CEO

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