Tag: Economic Overview

AWSM expanding supply chain solutions in Delaware

AWSM Manufactures Supply Chain Solutions and Awesome Jobs in Delaware

AWSM Solutions Manufactures Supply Chain Solutions and Awesome Job Opportunities in Delaware

AWSM Solutions brings jobs in Delaware

With a company name like AWSM – yes, it’s pronounced “awesome” – it’s clear that clever strategy is part of the AWSM Solutions business.

AWSM Solutions, which came to Bear, Delaware, in 2020, is a custom liquid blender and toll processor that is part of The Royale Group, a collection of specialty chemical companies. Toll processing, or contract processing, is basically a nimbler approach for quicker end-to-end product delivery. The supply chain solutions company handles everything from tankers to 55-gallon drums, all the way down to spray bottles. 

“The bulk of what we do is customer-directed toll processing,” said Gene Fatula, director of business development, who leads the company along with John Logue, chief executive officer of The Royale Group. “A company might come along with 50,000 of a liquid product and say, ‘We need you to mix it in your giant blenders, make us a formula and package it with our requirements.’”

Bringing manufacturing back to the United States is an opportunity on the minds of both Logue and Fatula. Toll processing gives their company advantages that offshore manufacturers cannot.

“It’s hard for a lot of our clients to get a quality product delivered quickly and conveniently in the current supply chain,” Logue noted.

Before joining forces, Logue had been a customer of Fatula’s for many years. He realized there was something bigger possible from their working relationship, given the challenges they both saw in the manufacturing supply chain.

“If you study what is happening with logistics and freight, the time lag and price constraints were destroying the American supply chain,” Fatula said. “John and I decided to create a niche that would bring jobs back to Delaware and be part of a needed solution.”

In 2019, AWSM New Jersey, a member of The Royale Group, was named Distributor of the Year through the National Association of Chemical Distributors, an impressive feat within the hundred-billion-dollar industry. Logue invited Fatula into the business venture, adding manufacturing to the Royale portfolio, as AWSM Solutions Delaware.

Ideal Location for AWSM’s Supply Chain Solutions


A number of elements had pointed the company toward Delaware. Logue and Fatula found that Delaware’s business-friendly approach was a big part in their decision to set up a location here, as well as move their corporate headquarters to the First State.

“While we are 100% for regulations, Delaware actually makes doing the right thing easy by having people in places to help simplify the process,” Fatula said. “Great location, great resources and a great, affordable workforce, is why Delaware has always done well with business.”

Although not required at the time of their decision to come to Delaware, Fatula and Logue decided to set a $15 minimum wage for AWSM Solutions. The rate scales quickly from there and provides great opportunity for employees.
 
To put together the new venture in Bear, AWSM worked with numerous state agencies. Delaware Natural Resources and Environmental Control (DNREC) provided guidance with regulatory issues while the Delaware Small Business Administration helped the company with complex funding issues that involved four states. Delaware Prosperity Partnership helped the company through the process of acquiring a grant from the Delaware Strategic Fund for capital improvements to its new Bear location. 
 
Throughout the last year, AWSM has been busy with products that have increased in demand due to the COVID-19 pandemic. The new facility makes a range of cleaning supplies and disinfectants along with pharmaceutical ingredients. 
 
The Bear facility already employs 15 full-time employees. Logue and Fatula are looking to hire additional workers.

“Our goal is to run two 10-hour shifts each day, five days a week,” Fatula said. “We’d like to add more employees by the end of the year.”

Fatula added that their plans look achievable based on the “very promising” talent pipeline the company already has developed. Right now, the challenge is getting needed equipment fast enough to supply the project – which is progressing positively.

“We have a great team here,” Fatula said. “It’s great to see smiles on faces when you walk in in the morning. Having a successful business and having a positive effect on a community and your employees is what it’s all about.”

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Bioscience Life Science in Delaware report 2021

New Report Details Growth and Opportunity for Delaware’s Life Sciences Sector

New Report Details Robust Growth and Immense Opportunity for Delaware’s Life Sciences Sector

Bioscience Life Science in Delaware report 2021

Study shows bioscience is leading economic driver in Delaware, generating $2B in GDP annually, with 11,000 employed in diverse sector jobs and state poised for significant expansion.
 
A comprehensive new report on Delaware’s life sciences vividly demonstrates the sector’s strength and recent growth, with 11000 jobs in the field, an annual economic impact of $2 billion in GDP, and a 65% increase in the number of new biotechnology R&D companies formed over the last 10 years.

Produced by Delaware Prosperity Partnership (DPP) and the Delaware BioScience Association (Delaware Bio), the study, “Life Sciences in Delaware: Momentum and Opportunity,” is the first comprehensive assessment of the breadth, depth and potential of the Delaware life sciences landscape.
 
The report analyzed five component subsectors capturing the full spectrum of bioscience activity in the state across private sector companies, higher education and nonprofit research institutions: Pharmaceuticals and Therapeutics; Research and Development, Testing and Medical Laboratories; Agricultural and Industrial Biosciences; Medical Devices and Equipment; and Supply and Distribution.
 
Key findings include:
 

  • Bioscience is a powerful economic driver in Delaware: The life sciences sector employs approximately 11,000 people and directly generates $2 billion in GDP (both 2.5% of total state employment and GDP) along with payrolls of at least $230 million.
  • Delaware’s bioscience landscape has transformed in recent years: The number of life sciences operations in Delaware has grown significantly in the past decade — most notably in the biotechnology R&D subindustry with an increase of 65% — and Delaware now ranks 7th nationally for life sciences venture capital funding per capita.
  • Delaware draws on a world-class talent pool in the statewide and regional labor market: Nearly 30% of all biochemists and biophysicists in the U.S. and one in six U.S. pharmaceutical employees works in Delaware’s region. The greater Philadelphia area ranks fourth in life sciences employment nationally, with Delaware employers drawing about one of five employees from across state lines.
  • Growth in federal funding has accelerated R&D activity: Since 2000, Delaware’s R&D funding from the National Institutes of Health has more than doubled, and the state is among the top three recipients per capita of funding from the NIH Institutional Development Award (IDeA) program. The National Institute for Innovation in Manufacturing Biopharmaceuticals (NIIMBL), centered at the University of Delaware, recently opened a $156 million center for R&D and biopharmaceutical workforce training and, in July, received another $153 million in federal grants.
  • Delaware is home to an increasing, wide range of degree and training programs: The number of degrees in the life sciences disciplines awarded by Delaware institutions has grown by 64% since 2010.

Recent developments underscore significant momentum and opportunity for growth areas, including advanced manufacturing: These include the announcement of a several hundred-million-dollar-investment in a new pharmaceutical development and manufacturing facility in Middletown, hundreds of millions dollars more in investment planned for a new science and innovation park at a former DuPont site, a $10 million program supporting the expansion of lab space and one of 2020’s most successful biotech IPOs by a Delaware company.

Cementing Delaware’s position as a preeminent hub for the life sciences will require clear focus and collaboration across government, higher education and industry: The state is ideally situated to accelerate sector growth with sustained, strategic investment in workforce development, infrastructure and lab space, and improved university-industry engagement and access to capital. 

“This report confirms the exciting growth, vitality and great potential of Delaware’s life sciences sector,” said Governor John Carney, co-chair of DPP. “Our state has so many unique strengths and advantages within a thriving region. Ensuring Delaware is a top-tier global hub of life sciences research and innovation is essential to both public health and our economic future, and we will continue to invest in its long-term growth.”
 
“The COVID-19 pandemic has vividly demonstrated the enormous importance of the work biomedical researchers devote their lives to advancing,” said Delaware Bio President Michael Fleming. “With growth across every facet of our sector – from private businesses of every size to new degree and training programs and increased R&D investment and expanding manufacturing capacity – the Delaware bioscience sector has never been stronger, and this report provides a compelling roadmap for the life sciences’ role as a central driver of the state’s success while transforming the lives of the patients it serves.”  

“We are seeing both strong organic sector growth as well as a substantial increase in external interest by life science companies considering Delaware for their home,” said Kurt Foreman, DPP president and CEO. “The findings in this report make clear why the state has increasing momentum and appeal as an ideal location for life sciences companies to invest and grow.”

The complete report is available at choosedelaware.com/bioreport or by clicking here.

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About Delaware Prosperity Partnership

Delaware Prosperity Partnership (choosedelaware.com) leads Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.

About the Delaware BioScience Association

Since 2006, the Delaware BioScience Association has been a catalyst for bioscience innovation in Delaware. Delaware Bio serves pharmaceutical and biotechnology firms, medical device manufacturers, agricultural biotech and chemical companies, research and testing companies, hospitals and medical institutions, academic partners and other organizations and related service companies, with the goal of expanding our state’s vibrant science economy.

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advanced materials technology in Delaware

Advanced Materials Technology Chooses Delaware to Expand

Worldwide Separations Solutions Innovator Advanced Materials Technology Chooses Delaware to Expand

advanced materials technology in Delaware

August 9, 2021 – 

Delaware Lab Space Grant Will Help Company with Global Reputation in Liquid Chromatography Grow Operations at North Wilmington Headquarters 


WILMINGTON, Del. — Advanced Materials Technology, an innovative product development and manufacturing company whose separations solutions have been adopted globally by major pharmaceutical companies, has chosen Delaware as the site where it will expand its research and development (R&D) work, manufacturing operations and local footprint in order to further its worldwide impact on multiple industries.

Since its founding in Delaware in 2005, Advanced Materials Technology has been dedicated to researching and designing high-quality enabling materials for scientists around the world working in separation science. The company is known for creating the first small-particle core-shell packing material for High-Performance Liquid Chromatography using its own HALO® Fused-Core® technology, a solution that has been accepted by the global scientific community and has blazed the trail for competition.

Expansion will allow Advanced Materials Technology to continue to strengthen its capabilities and retain its innovative edge, which encompasses chromatographers in R&D and quality-control laboratories and serves pharmaceutical, biotechnology, food science, environmental, government and academic markets. The company currently employs 39 full-time employees and intends to nearly double its staff by adding 35 new full-time positions over the next three years.

“We are pleased that AMT will be expanding their operations here in Delaware,” said Governor John Carney. “As we continue to rebuild our economy, we should do everything we can to support innovation and good-paying jobs.”

Advanced Materials Technology currently leases more than 17,000 square feet of R&D, manufacturing and office space at Concord Plaza in North Wilmington and plans to lease an additional 12,380 square feet beginning this fall. The company’s expanded presence will strengthen the Delaware innovation ecosystem through R&D investment and intellectual property and further high-quality job growth in Delaware’s advanced chemistry, bioscience and manufacturing sectors.

Advanced Materials Technology is making a capital investment of $4.5 million – including $3 million for the renovation of its laboratory space – toward its growth and expanded operations. Supporting the company’s plans are grants that the company has been approved to receive from the Delaware Strategic Fund by the state Council on Development Finance: a Jobs Performance Grant of $89,705 and a Delaware Lab Space Grant of $619,000.

“AMT is a proven company in New Castle County that will be almost doubling its workforce with this grant funding,” stated New Castle County Executive Matt Meyer. “I look forward to watching AMT’s innovative and cutting-edge work in the biopharma industries help us win the future and believe the next big idea will come from the first county of the First State.”

Demand for “ready-to-go” laboratory space for growing companies whose work is based in wet labs – largely biology and chemistry companies – is extremely high throughout the United States. In 2020, Delaware approved its statewide lab grant program to address this issue and ensure that existing small companies can grow within the state and that the state can attract new businesses by increasing its inventory of much-needed ready-to-go lab space. The 2021-22 state budget includes $10 million for the program.

“These grants really tipped the scales on our decision to remain in Delaware,” said Advanced Materials Technology co-founder and President Tim Langlois. “With this funding, we will be able to focus on development of our products, provide additional employment opportunities and continue the community involvement we’ve established through internships with University of Delaware students and activities like Bike to the Bay.”

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Delaware Prosperity Partnership

Delaware Prosperity Partnership leads Delaware’s economic development efforts to attract, grow and retain businesses; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent. The DPP team works with site selectors, executives and developers focused on where to locate or grow a business and helps with reviewing potential sites, cost-of-living analyses and funding opportunities, including available tax credits and incentives. DPP advances a culture of innovation in Delaware, working with innovators and startups to spotlight and celebrate successes and connect them with the resources they need to succeed. DPP and its partnerships throughout Delaware support and advance the missions of companies of all sizes and sectors.

About Advanced Materials Technology

Advanced Materials Technology, founded in 2005 and creator of HALO® Fused-Core® technology, has been focused on one mission – improving the presentation of the sample to the detector. Using its novel Fused-Core® particle design, the company has challenged conventional wisdom and engineered innovative solutions for the separations community. All company operations and functions are proudly located in Wilmington, Delaware, USA, with worldwide distribution and accessibility.

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economic development in Delaware

Demystifying Delaware’s Economic Development Strategy

Demystifying Delaware’s Economic Development Strategy

8 JULY, 2021 | DELAWARE BUSINESS TIMES

economic development in Delaware

With the Delaware Prosperity Partnership now in its fourth year of operation, we’re seeing growing success in our efforts, but I continue to hear questions about our role and how Delaware stacks up among its competitors.

What Do Economic Development Professionals Do?


The DPP team is about being in the right place at the right time to engage companies and their leaders as they are considering or actively planning for some sort of potential expansion or growth. Our customers are the companies who are operating here or willing to consider operating here. That may seem surprising since we are trying to help our communities or state, but the best way we can do that is to assist companies in choosing Delaware for the first time or choosing it again for the third, 12th or 50th time.

Sometimes we start by touring possible sites, sometimes it is discussing Delaware’s talent pool and other times we prepare responses on topics such as cost of doing business, taxes, infrastructure, and utilities. At times, we are digging for info to answer somewhat arcane questions for a prospect. One of the stand-out features for Delaware is its innovation ecosystem; it really is a part of Delaware’s DNA and one of the most gratifying things we do is supporting startups and entrepreneurs with a breakthrough idea as well as helping already established world-class firms. The variety of projects we see is always fascinating – often sharing common themes but always with a different angle or twist. 

The ongoing foundational marketing work we do locally, nationally, and internationally is to build awareness of why Delaware is great place to work, live and play. What DPP and our partners do is help companies grow here so that it is possible for more of our fellow Delawareans to have the ability to raise a family or have the kind of life they aspire to here in our state. It is a deeply gratifying job to know we are helping people to work.

One of DPP’s priorities and key core values is our commitment to work collaboratively. I always remind people that “partnership” is intentionally in our name. Almost daily, we are in contact with our economic development partners throughout the state. Ensuring that together we create or market the “product” that companies want. We believe there’s no wrong door into Delaware because DPP and our partners share, collaborate, and help the customer get to the right resource at the right time.

It’s probably as important to mention what DPP does not do. We help our prospects understand what resources are available and what they may qualify for, but tax credits and incentives are exclusively within the State of Delaware’s jurisdiction and that is as it should be.

Delaware’s Selling Points

One of the most important things we do as economic developers is listen. A prospect may think he or she has to be in a specific spot and that there aren’t other options. By taking a broader point of view and listening, we often can identify multiple solutions in various parts of the state. That helps give prospects confidence that they’ve found the most optimal options. The key is building rapport and trust, so prospects know we have their interests at heart. Nothing damages an economic developer’s credibility quicker than steering companies somewhere that won’t work and may cause serious challenges.

Delaware has a tremendous variety of lifestyle choices from city living to small-town Americana and spectacular coastal communities. It also boasts a can’t-be-beat cost of living and a highly ranked business tax climate. Intangibles also make a big difference. Ask the executives who we have worked with, and they can tell you – it’s an authentic, neighborly state where decision-makers and influencers go out of their way to help. It’s one of Delaware’s most attractive benefits and our prospects experience it.

Delaware’s Future 

Judging from DPP’s journey to date. I believe that Delaware’s future is bright. The DPP model, collaborating with our public and private sector partners, makes the prospects’ experience a more positive one. Prospects see firsthand how authentically the public and private sector work to support them. That experience helps sell companies on becoming part of that culture and community.  

I’m confident that companies will find what they need here to create a sustainable competitive advantage and that people will continue to see Delaware as a great place to live and raise a family. The good news is that Delaware’s brand is gaining momentum. Delaware is getting its well-deserved attention.

Kurt Foreman is president and CEO of Delaware Prosperity Partnership, the state’s public-private economic development agency.

This article was originally posted on The Delaware Business Times at: https://delawarebusinesstimes.com/news/vp-demystifying-economic-development/

Kurt Foreman

PRESIDENT & CEO

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Angel Investor Tax Credit Supports Delaware’s #7 Spot in National Science and Tech Index

Angel Investor Tax Credit supports Delaware’s #7 spot in national science and tech index

(Wilmington, Delaware) With more than 60 percent of Fortune 500 companies registered in Delaware, the small state has historically punched above its weight in innovation.  It is increasingly being recognized as a hub for innovative science and tech start-ups.  It just garnered the #7 spot in the Milken Institute’s State Technology and Science Index (STSI) in part because of its new angel investor tax credit.

The Milken Institute, a nonprofit, nonpartisan think tank focused on increasing global prosperity, has been publishing the STSI since 2002.  It evaluates each state by multiple factors, including science and technology capabilities and broader commercialization ecosystems that contribute to firm expansion, high-skills job creation, and broad economic growth.

One key factor in Delaware’s rise in the STSI from #10 to # 7 is its new tax credit bill, the Angel Investor Job Creation and Innovation Act for Small Technology Companies, signed into law by Governor John Carney in 2018.  The bill provides a refundable tax credit for qualified investors in innovative, small Delaware-based businesses.

ELIGIBLE BUSINESSES

  • Focus on qualified high-technology fields
  • Are headquartered in Delaware
  • 51% of common-law employees and 51% of total compensation paid for work provided in Delaware
  • Use proprietary technology to add value to a product, process, or service in qualified field; research or develop a proprietary product or process in qualified field
  • Have fewer than 25 employees
  • Have been in operation for fewer than 10 years (or fewer than 20 years if working on FDA approval for product)

QUALIFIED INVESTORS

  • $10,000 minimum investment for individual, $30,000 minimum for fund
  • Credit is 25% of investment in qualified business
  • Total program funding is capped at $5 million annually
  • Sunset after 2021

More information on qualifications is available at www.business.delaware.gov/incentives.

“Delaware is home to some of the nation’s most innovative small companies and now with this tax credit, science and high-tech entrepreneurs have even more incentive to choose Delaware to grow their businesses,” said Kurt Foreman, President and CEO of the Delaware Prosperity Partnership.

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; to build a stronger entrepreneurial and innovation ecosystem; and to support private employers in identifying, recruiting and developing talent in the state of Delaware. For more information, visit www.deprosperitypartnership.com.

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Chemours New HQ

Chemours Opens New Global HQ in Renovated DuPont Building

Chemours opens new global HQ in renovated DuPont Building

16 JANUARY, 2019

The Chemours Company, a global chemical firm, opened its renovated company headquarters on January 15 within the historic, 106-year-old DuPont Building on Rodney Square in downtown Wilmington — the former headquarters of DuPont, which spun off Chemours in 2015.

“This is a place that our team can be proud to call home,” Chemours President and CEO Mark Vergnano told the gathering of local dignitaries. “Our renovated office is a perfect metaphor for Chemours – a company grounded in its legacy, but transforming into an agile, innovative and collaborative enterprise with a bias for actions and growth.”

Now in his fourth year as leader of the new company, Vergnano expressed continued confidence about Chemours’ future growth in a time of market turmoil. In an interview with Delaware Business Times after the ceremony, Vegnano said, “People recognize that we’re the world leaders in our fields, and the market gets that,” he said, referring to the decentralized firm’s three operating units – Titanium Technologies, Fluoroproducts and Chemical Solutions.

The new headquarters will occupy 280,000 square feet in an 11-story segment of the building that is owned by the Buccini/Pollin Group (BPG), which also oversaw the 20-month renovation. Chemours’ share of construction costs was $30 million.

Vergnano said his company made a conscious decision not to change the building’s name to the Chemours Building out of respect for the company’s heritage, which dates back to the founding of DuPont on Brandywine Creek in 1802.

U.S. Sen. Tom Carper, Gov. John Carney, Wilmington Mayor Mike Purzycki and BPG Co-President Christopher Buccini were among the speakers at the ceremony and ribbon-cutting event that took place in the ornate Nobel Room on the 11th Floor.

Buccini purchased the building, including the Hotel du Pont, from Chemours in 2017 and set about revitalizing the structure, including adding residential units.

“After having renovated the Nemours and Brandywine buildings earlier, we had the knowledge of what worked and what didn’t work,” Buccini said. “This project stressed tested our company’s capabilities.” In his prepared remarks, Buccini noted that “Chemours’ decision to be based in this historic building is a fitting tribute to their heritage, while their 21st Century workspace points boldly to their future. We are proud to have been on this journey with them.”

Approximately 850 Chemours employees and contractors will work in the headquarters, which has 125 meeting rooms, 73 conference rooms and one café per floor of the building. The structure’s open-concept design features ergonomic chairs and sit/stand desks. In addition, 500 marble panels were recovered during renovation– about 50 tons in all – and reused in the building.

Carney noted that “this is probably the happiest day I’ve had in my two years as governor,” crediting the work done toward keeping Chemours in Wilmington and Delaware by his predecessor, former governor Jack Markell. “The state of Delaware can’t be successful without Wilmington being successful, and Wilmington can’t be successful” without a strong business base.

Purzycki, who followed Governor Carney to the podium, said, “If John is happy, you can’t imagine how happy the mayor of Wilmington is.”

Business analysts continue to be bullish on Chemours, most rating it a “buy” or “strong buy” to potential investors. Vergnano expressed confidence in the strength of the American economy, while noting that global market volatility continued to make the company’s stock undervalued. “I was given the advice by other CEO’s when I took over not to check the stock price every day,” he said. “We can’t control market volatility, which is a reflection of the fact that the market hates uncertainty.”

He re-stated his opinion that Chemours, with its worldwide manufacturing and marketing capabilities, is positioned better than most companies to weather this uncertainty, which includes tariff wars, the slowdown of the Chinese economy and what will play out with Brexit, the UK’s planned withdrawal from the EU.

“We’re not interested in acquisitions or new business outside the three areas where we have a strong presence,” he said. “Second, we will continue to invest in ourselves [through normal business expansion]. And, we will continue to provide cash back to our stockholders.”

Chemours had annual revenue in 2017 of more than $6 billion and with 45 manufacturing and laboratory sites worldwide, serving customers in over 130 countries.

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