Manufacturing in Wilmington, DE: Creating Innovative Products for Today and Tomorrow
6 Oct 2023
In recent decades, the landscape of manufacturing has undergone a remarkable transformation, shedding its traditional image of smokestacks and assembly lines. Today, manufacturing stands at the forefront of technological innovation. High-tech facilities not only produce goods efficiently while prioritizing environmental responsibility. And in Wilmington, DE, we’re poised for significant growth and impact in this new era of manufacturing.
Wilmington is becoming a hub for cutting-edge technologies that drive advancements in healthcare and life sciences. Wilmington offers a strategic location, skilled workforce, and a commitment to innovation, ideal for companies in the biopharmaceutical and medical manufacturing sectors to thrive and lead the way in shaping the future of healthcare solutions.
Manufacturing Month is an exciting celebration of innovation, technology, and progress in the manufacturing industry. Throughout the month - beginning with Manufacturing Day on Oct. 6 - we shine a spotlight on the remarkable transformations that have reshaped the manufacturing sector, as it drives economic growth, fostering innovation, and creating job opportunities.
“There’s no such thing as a low-skilled job in manufacturing anymore,” NAM Chief Economist Chad Moutray said in a 2023 Industry Outlook article for Manufacturing Dive.
Today’s typical manufacturing roles incorporate the latest technology like artificial intelligence, cloud computing and robotics into existing processes, quality control and problem-solving techniques. Additionally, sustainability is quickly becoming a focused aspect of manufacturing as companies seek to find ways to produce customary items in manners that coexist positively with their natural environment.
Wilmington has Numerous Benefits for Medical and Biopharmaceutical Manufacturing Companies.
Your medical and biopharmaceutical company will fit in perfectly with the manufacturing landscape of Wilmington. The city offers numerous benefits, including robust transportation access, plenty of building sites, and financial incentives.
Wilmington sits in the middle of the U.S.’s Northeast Corridor, roughly equidistant from D.C. and New York City. In fact, over 100,000,000 people live within a 350-mile radius of Wilmington. The city boasts access to I-95, which connects most large cities on the East Coast. High-speed rail, local, and regional trains, including Amtrak routes and SEPTA trains, allow for an expanded workforce across the area.
Additionally, you’ll find easy access to the New Castle County Airport, just 5 miles south of the city, which serves as a major hub for corporate and other private aircraft. Additionally, the Philadelphia International Airport is just a 25-minute drive. You’ll also find Harrisburg, Baltimore, Reagan Washington, and Newark (NJ) airports within 100 miles.
The Port of Wilmington is North America’s #1 Seaport for the import of fresh fruits, bananas, and juice concentrate. The Port also offers the largest dock-side refrigerated complex and the largest fumigation facility in the U.S. Your business will have convenient access to the Port.
Wilmington is home to industries like FinTech, Legal, Healthcare, Logistics, and professional services. The city continues to attract a young, energetic, entrepreneurial workforce eager to work for some of our major employers, like DuPont, Incyte, and Jumbotron.
Wilmington offers businesses a convenient location and a lower cost of doing business. Due to legal and tax advantages, 65% of Fortune 500 companies are registered in Wilmington and the greater state of Delaware. Why? Because corporations that are registered in Delaware but do not do business in Delaware do not have to pay corporate income tax.
The city is a vibrant, growing, future-focused business community and has sites and buildings for manufacturing companies that want to expand. The city has invested over $400 billion in developing and making improvements in the region. You’ll find buildings and facilities within the city and just outside the city that offer plenty of space, existing structures, amenities, connectivity, and easy access to transportation and shipping hubs. The Office of Economic Development is available to assist businesses searching for a location in the community.
Top Higher Education Institutions Build a Strong Workforce
Within 30 miles of Wilmington, you’ll find some of the top higher education institutions in the country that graduate over 75,000 students each year. Temple University, University of Pennsylvania, Drexel University, University of Delaware, and Wilmington University produce 35,000 graduates. Graduates fall into program categories like Business & Marketing, Health, Education, Engineering, and Computer and Information Services.
A Leader in FinTech
Wilmington is a hub for the FinTech sector, housing major corporations like Chase, Capital One, Barclays, FIA Card Services, Highmark Blue Cross and Blue Shield, Bank of America, and Delaware Claims Processing, which collectively form the city's largest employment sector. For over two decades, Wilmington and New Castle County have been recognized as a center for banking, financial services, and insurance, making Delaware an ideal location for international financial institutions entering the U.S. market.
The area’s universities and a collaboration of the Delaware Prosperity Partnership, First State Fintech Lab, and the University of Delaware’s Institute for Public Administration have created a report to showcase Delaware’s role in the national and global fintech landscape.
Delaware is a State for Manufacturing Growth
Manufacturers in Delaware account for 6.30% of the total output in the state, employing 5.84% of the workforce. Total output from manufacturing was $4.86 billion in 2019. In addition, there were an average of 25,000 manufacturing employees in Delaware in 2020, with an average annual compensation of $79,813.11 in 2019.
Manufacturing’s importance in Wilmington and throughout Delaware comes from its stability and growth, ultimately creating jobs and economic opportunities for local communities. More than 500 manufacturing firms contribute over $4.86 billion to the Gross State Product annually, according to the National Association of Manufacturers (NAM). Other significant data includes:
- $3.63 billion in exported manufacturing goods
- 5.84% of people work in the Delaware manufacturing industry.
- Average annual compensation of $79,813
Showcase your Manufacturing Operation
Manufacturing Day is an opportunity to help your community become more familiar with the possibilities present at your company. Hosting an event helps highlight the reality of modern manufacturing careers to your future workforce and those who can assist your development - students, parents, teachers, and community leaders. Utilize the Manufacturing Institute’s toolkit to help plan tours, send invitations and develop promotions.
Wilmington’s Office of Economic Development understands the vital importance manufacturing has in Delaware. We’re here to help you build your business here. Contact us today to learn more about manufacturing opportunities.