Wilmington is in the middle of it all! Located on the Christina and Delaware rivers, Wilmington offers a beautiful backdrop for corporate headquarters. Industrialists and executives have chosen Wilmington since the turn of the century and the downtown’s early-20th century DuPont Building is a staple icon for this legacy of business success and wealth. Wilmington boasts many large and small businesses, is a suburb of Philadelphia yet holds a smaller urban infrastructure with several major highways and near 4 major international airports and 1 national airport. The nearest and most accessible airport is Philadelphia (PHL) Airport which is 18.2 miles away. Other nearby airports include Harrisburg (MDT) (71.6 miles), Baltimore (BWI) (71.9 miles), Newark (EWR) (97.9 miles) and Reagan Washington (DCA) (101.6 miles).
In 2016, the regional GDP was 2.95 trillion and $400-billion of regional investment has been made in recent years - demonstrating how Wilmington’s location and assets have made it an ideal location for business attraction and growth.
Lower Cost of Doing Business
Being a suburb of Philadelphia, the city of Wilmington offers businesses the advantage of being near one of the east coast’s largest cities, but without the high price tag. For example, Philadelphia is just 20 minutes away but Pennsylvania’s taxes are higher, having one of the highest corporate tax rates in the country according to the Tax Foundation.
Delaware is the best legal climate for corporations according to the U.S. Chamber Institute. “Hands down, Delaware has some of the most competent and experienced judges and most stable legal system in the country,” said Harold Kim, chief operating officer of the U.S. Chamber Institute for Legal Reform. Delaware is home to the Chancery Court - the oldest business court in the country, known for reining in frivolous lawsuits. This, along with pro-business legislation, has made Delaware a top state to incorporate in. Half of all American publicly traded companies and two-thirds of Fortune 500 companies are incorporated in the state. Wilmington is an attractive location for a company headquarters or for satellite offices for these and other corporations.
Incentives Are Available
Wilmington provides customized support and creative business solutions in order to maintain retention and expansion. Financial Assistance and Tax and Property Incentives are readily available. Business owners regularly comment on the outstanding assistance provided by the city of Wilmington, along with the futuristic innovative way of thinking held by local leaders.
Business & Community Growth
New companies looking to relocate to Wilmington will find resources that help large and midsize businesses as well as existing business expansions, growth and problem solving that might include buying new equipment. Wilmington has made big investments in new parks, roads, infrastructure, downtown lofts and homes. A few business advantages include many perks such as financial assistance, tax exemptions and property incentives.
The workforce in Wilmington is made up of incredibly active young professionals. The median age is 35.7 which means Wilmington is full of young, professional, energetic business minded families eager to earn a good living. Simultaneously, businesses located here can draw on a much larger regional workforce of 6 million people.
Wilmington is known for its strong legal and financial sectors, but the city is home to a wide variety of industries, including a growing tech sector. Our workforce has developed expertise in the emerging fields of predictive analytics, financial technology, and user experience design. With Delaware being the highest ranked for fiber optic infrastructure in the U.S., its most populous city, Wilmington is ready to support businesses needing 21st century connectivity.
Barclays, The Chemours Company, Capital One, Navient, Christiana Health Care, Neumours (A.I. DuPont Hospital), AAA
Small Business Advantages
The city of Wilmington and the Division for Small Business encourages small business growth and expansion by offering small business assistance programs. The SBA also offers small business guidance and loan resources so that you are fully equipt to launch your startup. Mobility in the workforce is a focus with 4-5 co-working spaces including The Mill, Win Factory, Newcastle Chamber Incubator and shared services, business counseling, and startup events with the University of Delaware Program of Entrepreneurism. Much effort is given in the form of education as well as government programs.
Events like the Millennial Summit, the second-largest conference in the U.S. for young professionals, also provide information, networking opportunities and support to entrepreneurs and small business owners within the region.